Our Comprehensive Tax and Accounting Solutions
We provide detailed tax and accounting services to ensure your business stays compliant and financially stable. Here is how we can support your growth.
Corporate Income Tax Compliance
Expert preparation and timely filing of corporate income tax returns, with the right calculations and full BIR compliance.
Bookkeeping and Financial Reporting
Maintain accurate and updated financial records, prepare comprehensive financial statements, and ensure adherence to Philippine Accounting Standards (PAS).
Payroll and Tax Remittances
Comprehensive payroll processing and timely remittance of withholding taxes, SSS, PhilHealth, and Pag-IBIG contributions.
PEZA and BOI Reporting
Specialized reporting services for those registered with the Philippine Economic Zone Authority (PEZA) and Board of Investments (BOI).
AFS Preparation and Submission
Professional preparation and submission of Annual Financial Statements (AFS) to the SEC and BIR.
Regulatory Compliance Support
Ongoing guidance and support for various regulatory requirements beyond tax and accounting.
Essential Philippine Tax and Accounting Requirements
Understanding your obligations right from the start is the first step towards having a seamless operation. Here’s a quick summary of the key requirements you need to be aware of.
Accounting Requirements
- PAS and PFRS Standards: Adhere to Philippine Accounting Standards (PAS) and Philippine Financial Reporting Standards (PFRS).
- Language & Currency: Maintain books in English or Filipino and in Philippine Peso (PHP).
- Books of Accounts: Maintain registered books of accounts (e.g. General Journal, Cash Receipts and Disbursements Book, General Ledger, Sales Book)
- Record Keeping: All accounting records and supporting documents must be retained for at least 10 years, per BIR regulations.
- Audit Requirements: Corporations with gross quarterly sales over PHP 150,000 or those registered with the SEC must submit audited financial statements annually by a BIR-accredited CPA.
Tax Requirements
- BIR Registration: Obtain Taxpayer Identification Number and Certificate of Registration (COR).
- Monthly Reporting: Submit monthly tax returns (e.g. VAT, EWT, PIT) and remittances.
- Quarterly Reporting: Submit quarterly tax returns (e.g. Corporate Income Tax, VAT, Withholding Tax summaries).
- Annual Reporting: Submit Annual Corporate Income Tax Return, Alphalist, Audited Financial Statements (AFS), and Form 2316 for employees.
- Electronic Filing Systems: Mandatory use of e-FPS / eBIRForms for returns, eAFS for scanned copies and eBIR ePay for payments.
- Local Business Taxes: Comply with taxes imposed by Local Government Units (LGUs) based on gross sales.
- Documentary Stamp Tax (DST): Applicable to various documents and transactions.
Why Partner with Emerhub for Your Tax Needs in the Philippines?
With Emerhub, you have a reliable partner to guide you through every stage of your tax and accounting compliance.
14 Years of Local Expertise
With deep expertise in Philippine tax laws, we deliver accurate, practical guidance built around local compliance.
On-the-Ground Support
Our Philippine team offers localized support, ensuring nothing gets lost in translation or delayed.
Trusted Professional Network
We work with a trusted network of BIR-accredited CPAs and legal advisors to handle every compliance requirement for your business.
FAQs on Tax & Accounting in the Philippines
Yes, even if your company has no sales or activity, you are still required to file relevant BIR tax returns as long as your business is registered. Failure to do so can lead to penalties, even if your return is zero.
Typically, you’ll need to file VAT or percentage tax, quarterly income tax, withholding tax, and expanded withholding tax. The specific forms and deadlines depend on your company’s registration and tax type. Not all businesses are required to file every type of tax.
Late filings result in surcharges, interest, and compromise penalties, which compound the longer you wait. The BIR imposes a penalty of PHP 1,000 per return and a civil penalty of 25% of the tax due for late or non-filing, even for no payment returns. Emerhub ensures you avoid these by keeping your compliance calendar updated and proactive.
Books of accounts record your company’s financial transactions. These may be manual, loose-leaf, or computerized, and must be registered with the BIR. We maintain and update these monthly on your behalf.
Yes, even if you’re enjoying income tax holidays through BOI or PEZA incentives, you’re still required to submit regular BIR filings (including VAT, withholding tax, and compliance reports). Emerhub helps ensure you meet all reporting obligations during your exemption period.
EWT is Expanded Withholding Tax, which is a tax withheld from payments made to suppliers, contractors, or professionals. It applies when your company pays for services like rent, professional fees, and others. The applicable rate and obligation depends on the type of transaction and the supplier’s status. We’ll help you identify and file the correct EWT obligations each month.
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Schedule a call with an Emerhub consultant in the Philippines
Not sure where to start with tax and accounting in the Philippines? Let us know what you need, and we’ll handle the rest.
Email Us
philippines@emerhub.com
Call Us
+63 945 726 2635
Visit Us
35th Floor Penthouse, Ecotower, 32nd Street, 9th Ave, Taguig, 1800 Metro Manila, Philippines