BGC & Co. CPA's | Accounting


June 17, 2020

BIR removes mayor’s permit as requirement in business registration

The Bureau of Internal Revenue (BIR) has taken out the mayor’s permit as one of the requirements in business registration.

Commissioner Cesar Dulay pointed out that the BIR aims to expedite the process of establishing businesses in the Philippines.

It is continuously making reforms to ease the burden of entrepreneurs in submitting required documents.

-PTV News

Financial auditing is a mandatory requirement, annually submitted to the Philippine Bureau of Internal Revenue (BIR). Auditing is an excellent way to determine the value of your business and provide the management a clear picture of the past, present, and future state of your company. Regular auditing is also highly recommended to ensure that the proper accounting policies are in place and applied into practice, and all activities monitored for quality.

• General audit of financial statements and accounting system in preparation for an auditor’s report
• Review and evaluation of internal accounting controls and procedures, to determine effective deployment and recommend necessary adjustments
• Comparative financial analysis and summaries for the company’s management team
• Inventory of company assets
• Accounting and audit statements

The BGC Company has an extremely skilled team of financial staffers who can analyze your accounting system for internal and external reporting. Our tax consultants can audit and review finances, determine current tax plans, make proactive adjustments, and investigate improper applications of internal tax and bookkeeping controls.