PSO Accounting Group

PSO Accounting Group Contact us! +639275080210

Accounting firm in Alabang. Auditing firm in Alabang. Accounting firm loc

PSO Accounting and Bookkeeping Services was established to help out all the Business/es here in the Philippines with their Accounting and other concerns.

📣 We’re expanding our team!PSO Accountants is looking for Accounting Associates to join our growing firm in Makati City....
28/11/2025

📣 We’re expanding our team!
PSO Accountants is looking for Accounting Associates to join our growing firm in Makati City.
If you’re a graduate of Accounting, Finance, or any related business course, and passionate about building a career in accounting and compliance, we’d love to meet you.
Experience with Xero or QuickBooks is a plus, but fresh graduates are welcome to apply!
📩 Send your CV to [email protected]
and take the next step in your accounting career with us.

📢 We’re Hiring – Accounting Supervisor (Makati City)PSO Accounting Group is looking for experienced Accounting Superviso...
28/11/2025

📢 We’re Hiring – Accounting Supervisor (Makati City)
PSO Accounting Group is looking for experienced Accounting Supervisors to join our growing leadership team.
If you have a strong background in accounting, auditing, and hands-on experience with QuickBooks or Xero, we’d love to meet you!
You’ll be responsible for reviewing financial transactions, guiding associates, and ensuring high-quality reporting and compliance.
✨ Competitive salary and growth opportunities await the right candidate!
📩 Submit your CV to [email protected]
and take the next step in your accounting career with PSO Accountants.

Accounting Treatment for Online Gaming & Casino Operators: Why Their Accounting Isn’t Like Everyone Else’sIf you’re in t...
24/07/2025

Accounting Treatment for Online Gaming & Casino Operators: Why Their Accounting Isn’t Like Everyone Else’s

If you’re in the online gaming or casino space, especially those regulated by PAGCOR, you’d know by now that accounting here isn’t exactly business-as-usual.

On the surface, it might look like any other SEC-registered company. But once you get into the actual compliance work, you’d realize, “Ay, iba pala ‘to.”

Here are a few key reasons why:

Franchise Tax, Not Income Tax
Most regular corporations pay 25% corporate income tax. But for licensed online gaming operators, it’s usually a 5% franchise tax on gross gaming revenue — regardless of expenses. So from the start, the way revenue is computed and presented in the books is different.

You’re Not Just Reporting to SEC and BIR
In this space, regulatory coordination doesn’t stop with government agencies. Operators also comply with PAGCOR requirements, which means your financial reports sometimes need to speak their language — including formats, schedules, and even operational assumptions.

System-Generated Transactions are the Backbone
You’re not just reconciling sales and expenses. You’re looking at wallet balances, game logs, transaction IDs, even player turnover. And yes, the books have to make sense with those system records. Kaya hindi puwedeng basta encode lang, kailangan may understanding din sa daloy ng platform.

Capital Structure May Be Heavily Scrutinized
Especially for companies under the PIGO model or with foreign ownership, regulators may look closer into how capital is structured and deployed. There’s more to it than just putting up paid-up capital.

This kind of accounting work really goes beyond just ticking the boxes. You need both compliance experience and a working understanding of how these platforms actually operate. If you’re in the industry, or assisting one, it helps to know the moving parts, especially before audit and financial statement season comes around.

If you want to learn more or get clarity on how this applies to your setup, feel free to contact us anytime.

25/06/2025

Settling an Estate? You May Need a CPA Statement.

When filing an Estate Tax Return, the BIR requires a CPA-certified Statement of Assets and Liabilities if the estate meets certain conditions or thresholds set by the tax authorities.

This often applies when the estate includes multiple properties, significant cash or investments, or other high-value assets.

✅ What is a CPA Statement for Estate Tax?
It’s an official report prepared by a licensed CPA that details the assets and liabilities of the deceased. It provides transparency and ensures the proper computation of estate tax obligations.

📌 When is it required?
A CPA Statement is typically required if:
• The estate involves high-value assets
• The BIR checklist includes it during estate tax processing
• There is a need to support asset declarations for tax clearance and title transfer

⸻

PSO Accounting Group offers professional preparation of CPA Statements for estate tax filings. Our team ensures accuracy, compliance, and smooth coordination with BIR requirements.

📩 Message us today to learn more or to request assistance.
We’re here to make estate settlement more manageable for your family.

What happens during a BIR audit?Lately, we have been receiving a number of inquiries about BIR audits, particularly rega...
20/06/2025

What happens during a BIR audit?

Lately, we have been receiving a number of inquiries about BIR audits, particularly regarding Letters of Authority (LOA) and the documentary requirements that come with them. For business owners, this process can be stressful, lalo na kapag hindi mo kabisado ang flow at checklist ng BIR.

Here’s a quick guide on what to expect:

Step 1: Letter of Authority (LOA)
This authorizes specific Revenue Officers to examine your books of accounts and tax compliance for a specific taxable year.

Step 2: Checklist of Requirements
Typically includes:
• Trial Balance and Abstract of Accounts
• SEC documents (AOI, By-laws, Cert. of Reg.)
• GIS
• BIR 2307s and tax credit substantiations
• Contracts, agreements, and lease documents
• Inventory lists and depreciation schedules

The BIR usually gives you 10 calendar days to submit everything from the time you receive the checklist.

Tip: Always maintain organized digital and physical copies of your tax records. Being audit-ready saves you time, money, and stress.

If you’re unsure how to respond to an LOA or prepare for a BIR audit, message us. We’ve handled multiple cases across various industries from simple documentation reviews to full-blown tax assessments.

How to Register a Foreign Company in the Philippines1. Understanding Domestic Corporations in the PhilippinesA domestic ...
18/04/2025

How to Register a Foreign Company in the Philippines

1. Understanding Domestic Corporations in the Philippines
A domestic corporation is an entity incorporated under Philippine laws, operating within the country, and subject to local regulations and taxation. Foreign investors can own shares in these corporations, with ownership structures varying based on the percentage of foreign equity.

2. Foreign Ownership Regulations
The Philippine Foreign Investments Act of 1991 outlines the permissible foreign ownership in domestic corporations:

• Up to 40% Foreign Equity: Foreigners can own up to 40% of a domestic corporation without significant restrictions.

• More than 40% Foreign Equity: Ownership exceeding 40% is allowed but may be subject to limitations or prohibitions, especially in industries listed in the Foreign Investments Negative List (FINL).

3. Minimum Capital Requirements
The required minimum capital varies based on the level of foreign ownership:

• Up to 40% Foreign Equity: Approximately PHP 5,000 (USD 100).

• More than 40% Foreign Equity: Approximately PHP 4,800,000 (USD 200,000)

4. Steps to Register a Domestic Corporation
a. Verify Business Name Availability

• Securities and Exchange Commission (SEC): Ensure your proposed business name is unique and complies with SEC guidelines.

b. Prepare Incorporation Documents

• Articles of Incorporation and By-Laws: Detailing the corporation’s structure, purpose, and operational guidelines.

• Treasurer’s Affidavit: Certifying the capital has been duly subscribed and paid.

c. Register with the SEC

• Submission: File the incorporation documents with the SEC.

• Processing: The SEC has implemented the Electronic Simplified Processing of Application for Registration of Company (ESPARC) to expedite the registration process.

d. Obtain a Tax Identification Number (TIN)

• Bureau of Internal Revenue (BIR): Register to secure a TIN and comply with tax obligations. e. Secure Local Business Permits

• Mayor’s Permit: Obtain from the local government unit (LGU) where the business will operate.

• Barangay Clearance: Acquire from the barangay (village) office.

5. Additional Requirements for Foreign Investors
• Foreign Investment Application: Submit to the SEC if foreign equity exceeds 40%.

• Proof of Inward Remittance: Demonstrate that the foreign capital has been remitted to the Philippines.

• Resident Agent Appointment: Designate a Philippine resident to act on behalf of the corporation.

6. Recent Reforms and Simplifications
The Philippine government has introduced measures to simplify business registration:

• Philippine Business Hub (PBH): A one-stop online platform reducing the registration process to a single step, completed within seven days.

• Ease of Doing Business Act: Legislation aimed at reducing bureaucratic red tape and expediting government transactions.

7. Tax Incentives and Benefits
Foreign investors may be eligible for tax incentives, especially if investing in priority sectors or regions. Consulting with local investment promotion agencies can provide insights into available benefits.

Conclusion
Establishing a domestic corporation in the Philippines as a foreign investor is now more accessible due to recent reforms. By adhering to the outlined steps and staying informed about regulatory changes, you can successfully set up and operate your business in the Philippines.

For personalized assistance and to navigate the registration process seamlessly, contact PSO Accounting Group today. Call or Whatsapp at +63 9275080210.

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Muntinlupa City
1780

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