Corporate and Local Tax Compliance
The growing scrutiny by tax authorities means businesses now face ever-increasing tax compliance and reporting obligations. Having trusted partner to manage tax return compliance requirements and negotiate and resolve with local or national government agencies enables client to focus its time and effort on running their business.
International taxation is the study or determination of tax on a person or business subject to the tax laws of different countries or the international aspects of an individual country's tax laws.
Through our affiliation with 3E Accounting International, an international association of independent CPAS and consulting firms that offers the expertise of more than 1,000 accounting professionals from more than 70 firms across the globe, we pride ourselves in keeping abreast with the changes in international tax laws which may have impact on the clients’ businesses.
The Philippine transfer pricing guidelines are set forth under Revenue Regulations 2-2013 and has among its objectives to require the maintenance or safekeeping of the documents necessary for the taxpayer to prove that efforts were exerted to determine the arm’s-length standard for its transactions with related parties. The guidelines state that adequate documentation will enable the taxpayers to :
(i) defend their transfer pricing analysis
(ii) prevent transfer pricing adjustments arising from tax examinations, and
(iii) support their applications for Mutual Agreement Procedure (MAP).