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

Any company, business, or organization operating in the Philippines will require bookkeeping and monitoring. Taxes and reports applicable to a company are determined by its business entity setup in the country.

BGC’s tax experts can provide proper planning so that you can be aware of the tax implications on your business and adjust accordingly. Our financial experts prepare monthly summaries to be presented to the management board so proper financial planning can occur; allowing you to focus on the other important aspects of your business.

• Monthly preparation of Expanded Withholding Tax Return (BIR Form 1601E) with related Alphalist /Attachment
• Monthly preparation of Final Withholding Tax Return (BIR Form 1601F) with related Alphalist /Attachment, if applicable
• Monthly preparation of Value Added Tax Declaration (BIR Form 2550M)
• Quarterly preparation of Value Added Tax Return (BIR Form 2550Q)
• Quarterly preparation of Income Tax Return (BIR Form 1702Q)
• Quarterly preparation of Certificate of Creditable Tax Withheld at Source (BIR Form 2307) to be distributed by Client to its suppliers
• Preparation and submission of diskette files, if applicable
• Filing of Returns
• Recording all transactions to the accounting system

Every business is required to submit monthly, quarterly, and annual reports to BIR, regardless of its structure. With BGC’s accounting and bookkeeping services, we can remove the burden of such tedious and repetitive paperwork from your hands. Our team of tax attorneys, accountants, and CPAs operate at the ISO 9001:2008 standard to ensure smooth operations and monitoring of all your books.