Tax compliance in the Philippines is complex
The World Bank reports that it takes a company in the Philippines 185.6 hours on average to file its taxes each year!
That’s a lot of time spent on tax return filings and compliance!
CloudCfo can optimize the taxation process for your business.
Types of Taxation
Businesses in the Philippines are required to file several tax returns on a monthly, quarterly and yearly basis. There are various types of corporate taxes that must be filed to achieve full compliance.
Local Government Unit or LGU taxes, withholding taxes, employee taxes, VAT, excise taxes and income taxes are just some of the taxes that businesses in the Philippines must consider each financial year.
On top of this, the BIR also regularly issues new tax rulings and orders and unless you stay up to date you could miss an important update!
By outsourcing your tax services to CloudCfo, we can help ensure that your business never misses a tax filing deadline again.
We advise corporations and partnerships in the Philippines on how to achieve compliance for their tax returns and filing obligations. We have extensive experience working with local taxation laws and all compliance and reporting regulations.
We also have in-depth knowledge of the various Securities and Exchange Commission or SEC submissions, BIR Forms and taxation certificates.
We help ensure that the tax compliance process is simple and efficient for all of our clients.
Led by a Certified Public Accountant or CPA, our team will identify
- What type of documentation you should be issuing to your customers
- How to make sure that your expenses are properly documented to claim tax deductions
- All the applicable tax filings and their deadline dates
Timely advice for you to plan with confidence
We give all our clients ample time to prepare their tax payments and cash flow by giving them an early estimate of their monthly, quarterly and yearly tax obligations. We align the tax estimates with our monthly financial closing process and draft all tax returns in advance of payment and filing deadlines.