Manage tax obligations with accuracy and timeliness, covering preparation, compilation, filing, and recording of all documentary requirements to ensure precise and prompt tax payments.
Preparation and Filing of Tax Returns and Attachments Services
Ensuring compliance with all regulatory requirements is essential. Tax returns and their required attachments must be prepared, filed, and submitted accurately and on time.
Annual Income Tax Return Filing
We prepare and file the Annual Income Tax Return (BIR Form 1702) along with the Summary Alphalist of Withholding Tax at Source (SAWT).
Annual Information Return Submission
We handle the submission of the Annual Information Return of Income Taxes Withheld on Compensation (BIR Form 1604-C) with the Alphabetical List of Employees.
Certificate of Creditable Tax Withheld
We process and provide the Certificate of Creditable Tax Withheld at Source (BIR Form 2307).
Documentary Stamp Tax Return Filing
We manage the filing of the Documentary Stamp Tax Return (BIR Form 2000).
Monthly Remittance of Final Income Taxes
We ensure the timely filing of the Monthly Remittance Form of Final Income Taxes Withheld (BIR Form 0619-F).
Monthly Remittance of Creditable Income Taxes
We prepare and file the Monthly Remittance Form of Creditable Income Tax Withheld-Expanded (BIR Form 0619-E).
Expanded Withholding Taxes Reporting
We compile and submit the Payees and Annual Report on Expanded Withholding Taxes (BIR Form 1604-E) with the Alphalist of Payees.
Quarterly Remittance of Creditable Income Taxes
We handle the Quarterly Remittance Return of Creditable Income Tax Withheld-Expanded (BIR Form 1601-EQ), including the Quarterly Alphalist of Payees (QAP).
Quarterly Remittance of Final Income Taxes
We manage the Quarterly Remittance Return of Final Income Taxes Withheld (BIR Form 1601-FQ) with the Quarterly Alphalist of Payees (QAP).
Quarterly VAT Return Filing
We prepare and file the Quarterly VAT Return (BIR Form 2550Q) along with the Quarterly Summary of Sales, Purchases, and Importations.
Quarterly Income Tax Return Filing
We ensure the accurate filing of the Quarterly Income Tax Return (BIR Form 1702Q), including the Summary Alphalist of Withholding Tax (SAWT).
Types of Taxes and Tax Returns
Individual taxpayers and entities in the Philippines are required to fulfill their tax obligations to maintain operations and avoid disruptions. Submitting documents on time is crucial to avoid penalties.
Final Tax
A tax withheld at source on certain types of income, such as interest, dividends, and royalties, which is considered the final settlement of the tax liability.
Donor’s Tax
A tax imposed on the transfer of property by way of donation or gift.
Documentary Stamp Tax
A tax levied on documents, instruments, loan agreements, and papers evidencing the acceptance, assignment, sale, or transfer of an obligation or right.
Estate Tax
A tax on the right of a deceased person to transfer their estate to heirs or beneficiaries.
Percentage Tax
A business tax imposed on persons or entities that sell or lease goods, properties, or services, and are not VAT-registered.
Withholding Tax on Income Payments
A tax withheld by employers or payers on income payments to individuals or entities, which is remitted to the government.
Expanded Withholding Tax
A tax withheld on certain income payments, such as professional fees, rentals, and commissions, as prescribed by law.
Withholding Tax on Compensation
A tax withheld by employers on the salaries and wages of employees.
Final Withholding Tax
A tax withheld on specific income payments, which serves as the final tax liability of the recipient.
Withholding Tax on Government Money Payments
A tax withheld by government agencies on payments made to suppliers, contractors, or service providers.
Value-Added Tax (VAT)
A consumption tax imposed on the sale of goods, services, or properties, as well as on imports, at every stage of the distribution chain.
Income Tax
A tax imposed on the income earned by individuals, corporations, partnerships, and other entities.
Others
Other taxes that may apply depending on specific circumstances or transactions, such as excise tax or customs duties.
Why Choose Ascentium Philippines
Our financial and tax consultants ensures accurate and timely compliance with BIR regulations, helping you avoid penalties.
Our team simplifies the complex tax compliance process, from compiling documentary requirements to filing tax returns, allowing you to focus on your business operations.
With a deep understanding of the National Internal Revenue Code (NIRC) and other tax regulations, they ensure that your business remains compliant with all legal requirements.
Tax Compliance Support By Experts
Our Philippine Tax Compliance Services are delivered by experienced professionals specialising in tax regulations and ensuring full compliance with government requirements.
Tax compliance refers to adhering to the tax laws and regulations set by the Bureau of Internal Revenue (BIR), including the accurate preparation, filing, and payment of taxes.
Tax compliance is essential to avoid penalties, interest charges, and legal issues, ensuring that businesses and individuals can operate legally in the Philippines.
Common taxes include Income Tax, Value-Added Tax (VAT), Withholding Tax, Percentage Tax, Documentary Stamp Tax, and Estate Tax.
The Bureau of Internal Revenue (BIR) is responsible for enforcing tax laws, collecting taxes, and imposing penalties for non-compliance.
Penalties include a 25% surcharge on the payable amount, 12% annual interest, and additional compromise penalties.
Maintaining accurate accounting records and working with tax compliance professionals can help ensure timely and accurate filing.
Ascentium Philippines offers expert assistance in navigating financial and tax regulations. Their services include the accurate preparation, filing, and submission of tax returns, ensuring businesses remain compliant with all legal requirements while avoiding penalties.
Insights & Resources
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A Guide to NPC Circular No. 2023-04: Understanding the Guidelines on Consent
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