Safeguarding Your Business: Finding the Right Accounting Firm in Davao City
Usually when you need an accountant, you need one fast. It happens frequently on mid-December when you need some last minute tax planning or when you just bought a property and you need a legal advisor to handle the closing. These situations may have reminded you that finding the right accountant is not as easy as picking up your daily wear. Aside from giving value to your money, a good accountant can help you in making major business decisions. On the other hand, the wrong one can allow you to miss out tax planning and saving opportunities. Worse, you can spend so much money for his services while your business is ruined along the way. To avoid such troubles, you may consider certain factors upon choosing the right accounting firm. Some guidelines that will be discussed are: Preparation to Be Done Before Looking for an Accounting Firm The Importance of a Carefully Selected Accounting Firm What Should You Look For When Choosing an Accounting Firm Accounting Firms in Davao City Preparation to Be Done Before Looking for an Accounting Firm The probability that you can find and partner with a good accounting firm increases if you the right made preparations in advance. Here are some important steps you need to take before partnering with an accounting firm in Davao City: 1. Prepare Clearly describe your needs. Identify the kind of help and the type of professional you need. Gather names of accounting firms to call. 2. Ask questions Take the right to screen potential accounting firms. Interrogate. Ask the right questions to each candidate. Check each potential accounting firm’s references. 3. Choose Weigh the responses from each entrant. Select the best accounting firm. Back to Top ↑ The Importance of a Carefully Selected Accounting Firm If you have a condition that needs serious attention, you will carefully choose a medical practitioner. You would not expect an eye doctor to take care of a heart surgery; nor would you depend on a pediatrician to take care your growing teenager. Funny as it seems, but many businessmen today make ill-defined decisions when they choose a professional who is going to take care of them financially. As mentioned above, selecting a professional accounting...
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EFPS to include NGAs
In a revenue regulation (RR no. 1-2013) issued by BIR last January 23, 2013, National Government Agencies (NGAs) are required to use Electronic Tax Remittance Advice (eTRA) which is a sub system of Electronic Filing and Payment System (eFPS). Currently, BIR mandates the following taxpayers to file their returns using EFPS: a. Large Taxpayers duly notified by the Bureau of Internal Revenue (BIR); b. Top 20,000 Private Corporations duly notified by the BIR; c. Top 5,000 Individual Taxpayers duly notified by the BIR; d. Taxpayers who wishes to enter into contract with government offices; e. Corporations with paid-up capital stock of Ten Million Pesos; f. PEZA-registered entities and those located within Special Economic Zones; and g. Government Offices, in so far as remittance of withheld VAT and business tax is concerned. According to an excerpt from the RR, “Now that eTRA System, a sub-system of the eFPS, has been developed, the base of taxpayers mandated to use eFPS is expanded to include all NGAs since the latter make use of the TRA in settlement of their withholding tax liabilities arising from the use of funds being released by the Department of Budget and Management (DBM). Through the eTRA System, the NGAs can access the eFPS, file their tax return electronically and accomplish the eTRA on-line, provided the prescribed enrollment to the eFPS has already been complied with.” With the implementation of this system, NGAs can conveniently remit and pay their taxes. It saves the taxpayer the hassle of falling in line to file and pay their tax returns. It’s fast and convenient since everything can be done through a click in their computers with an Internet connection. EFPS to include NGAs ...
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DTI Launches Coffee Shared Services
The Department of Trade and Industry or DTI launches coffee shared services facility (SSF), the first of the 1,000 SSFs with a budget allocation of P700 million to be established within the year to boost the competitiveness and productivity of micro, small and medium enterprises (SMEs) in the countryside. DTI Undersecretary Merly Cruz said the SSF would be located in Tabuk City, Kalinga for the coffee cluster in the Cordillera Administrative Region (CAR). The launch is slated on Wednesday, January 16 (Business Bulletin p.1 January 13, 2013). Shared services refers to the provision of a service by one part of an organization or group, that is the coffee industry, where that service had previously been found in more than one part of the organization or group. Thus the funding and resourcing of the service is shared between the members of the industry and the providing department effectively becomes a service provider for all of its members. Thewill minimize the costs for each member of the industry Coffee is one of our home grown agricultural products in the country. It faces stiff competition in the world market especially Latin America. The Government program of shared services facility (SSF) through the Department of Trade and Industry (DTI) will augment the productivity and competitiveness of micro industry. This program once implemented in full scale will generate more employment and revenue. Prioritizing small and medium enterprises (SMES) is indeed a good strategy to enhance faster development in the countryside. The article DTI Launches Coffee Shared Services is contributed by Dr. Geovanni A. Patalinghug...
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Puregold Sets Expansion In Mindanao
Puregold sets expansion in Mindanao in 2013, as the capital expenditures allocated is expected to reach P3 billion. They are initially targeting the opening of 25 new stores this year as the firm targets to have 200 stores by 2015. Mindanao has a lot of business opportunities because it’s vast mineral resources, bigger areas and a growing population. In Davao city alone more shopping malls, condominiums and housing are rising up. It will also mean more job opportunities for our new graduates and unemployed workers in the city. But this opportunities if not being manage carefully by our government agencies and our laws and policies are not being implemented will be detrimental to our environment and human resources as well. If the local government is not at phase with rapid growth in terms of city planning, drainage system, widening of roads, increase demand of electricity, traffic management will result to damage to our environment such as floods, brown outs, traffic congestions and other problems which will offset the positive development. Recently we were struck by typhoons and it causes more damage to properties and lives. With this experienced we should be prepared at all times and should not be complacent. We have to move on and focus on our opportunities and growth. Puregold Sets Expansion In Mindanao is contributed by Geovanni A. Patalinghug...
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Davao City Host of the 23rd Philippine Ad Congress 2013
A news article from Sun Star reported that the ad board has officially decided to award Davao City the hosting of the 23rd Philippine Ad Congress 2013, the largest advertising congress (AdCon) in the country. The AdCon, which is being held every two years, is a gathering of the country’s network giants, telephone companies and advertising firms. This is the first time the AdCon will be held in Mindanao. The congress will be on November and will be possibly held in SM Lanang’s SMX Convention Center. Around 3,500 to 5,000 delegates are expected to visit the city during the AdCon, 90 percent of those will be coming from outside of Davao, five percent are foreign delegates and five percent are delegates from Mindanao. Jason Magnaye, city’s investment and promotions officer, said that the deciding factor for the board in considering Davao City as the host is, “the cohesion of the DOT, the City Government, and with the private sector; these are the important factors in successful hosting.” Mayor Sara Duterte-Carpio further added that “multisectoral unity, the landscape of ridge to reef, vibrant economy, eagerness of the Dabawenyos to host and show off Davao” is the key that lead the board to decide Davao as the host. Among the competing local government units (LGUs) and event complexes that bided for the same hosting contract include Baguio City, Boracay, Subic, and Camarines Sur. Two years ago, Philippine Ad Congress was held at Camsur Watersports Complex, Camarines from November 16 to 19 with the theme “Change the Game”. The event included renowned speakers from different sectors, such as Sec. Mon Jimenez of Department of Tourism; Eugenio “Gabby” Lopez III, Chairman & CEO, ABS-CBN; Atty. Felipe L. Gozon, Chief Executive & Chair, GMA Networks Inc.; Manuel V. Pangilinan, Chairman, ABC-TV5; John Miller, Chairman & Chief Executive Officer, Nestlé Philippines, Inc. and many...
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