Small Business Guarantee and Finance Corporation Tender

Description Terms Of Reference I. Project Title: Tax Consulting Services Ii. Project Description Tax Is A Significant Cost In Business. As Such, Properly Managing And Controlling Inherent Tax Risks Is A Must. And To Keep Up With Tax Developments And Have A Clearer Understanding It Is Important To Seek Professional Tax Advice To Help Them Manage Tax Risk, Control Costs, And Seize Tax Planning Opportunities. The Philippine Tax Environment Is Dynamic. Regulations Are Constantly Evolving And To Keep Pace With The Changing Business Landscape, Businesses Must Thoroughly Assess Their Tax Structures, Tax Positions And Tax Compliances On An Ongoing Basis, To Ensure That The Overall Tax Positions Are Backed By Adequate Support, Compliances Are Monitored, And Other Matters (if Any) Are Dealt With Appropriately. Tax, Being An Important Aspect Of Any Business, Needs To Be Checked And Assessed By A Tax Professional. Conducting Such Checks On A Periodic Basis Will Help In Managing Tax Risks, Ensure Appropriate Compliance, Result In Better Preparedness For Tax Audits And Strengthen Tax Positions. Iii. Site Sb Corporation At 17/18/19 Flrs. 139 Corporate Center, 139 Valero Street, Salcedo Village, Makati City. Iv. Project Objectives: The Consultant Shall Render Consulting Services To Sb Corporation To: 1. Identify Any Inherent Risks Through An In-depth And Systematic Review Of The Books Of Accounts. 2. Identify Tax Risks And Assess The Potential Impact To Sb Corp. 3. Establish Any Risk Of And Quantifying Any Potential Back Taxes Discovered During A Review. 4. Provide Advice On The Mitigation And Settlement Of Any Tax Risk Identified. 5. Provide A Deep Insight Into Sbcorp’s Current Tax Practices To Be Able To Assess And Mitigate Potential Risks, Improve Tax Compliances, And Stay Updated With The Bir Rulings, Regulations, And Other Tax Issuances. 6. Conduct A Tax Health Check To Ascertain The Level Of Compliance With Relevant Tax Laws, Identifying The Potential Tax Risks And Evaluating Recommendations For Improved Compliance. V. Expertise Required The Tax Consultancy Services Shall Be Provided By A Reputable Tax Consultancy Firm Required With The Following Key Expertise: 1. Assigned Experts Should Have Experience In Handling Government-owned And Controlled Corporations (goccs) Tax Matters. 2. Assigned Experts Of The Firm Must Have At Least 10 Years Of Experience With Tax Assessments And Tax Litigations. 3. Preferably With 10 Years Of Experience In Working In Tax Administration. Vi. Scope Of Services The Independent Party Will Perform The Following Activities: 1. Review Of Financial Data With Relevance To Bir Audits. 2. Provide Oral Or Written Reply To Sb Corp’s Tax-related Inquiries. 3. Review Of Contracts And Accounting Transactions For The Period Under Review To Ensure Tax Compliance And To Check Their Tax Implications. 4. Review Of All Tax Forms And Returns Applicable To The Corporation And Its Calculations. 5. Review Of All Tax Correspondence With The Tax Authorities. 6. Review Of All Tax Payments And Ensure All Tax Receipts Are Properly Filed. 7. Detailed Review Of 2024 Annual Corporate Income Tax Return And Calculations To Ensure Completeness And Accuracy. 8. Conduct A One-day Training/workshop For Proper Handling Of Tax Correspondence, Tax Returns And Bir Audit. 9. Assists In Handling Tax Audits Of Bir (cy 2021 And 2023). 10. Attend Meetings Related To Bir Audit Cy 2021 And 2023. 11. Consultation Services For Tax Matters Clarification And Inquiries. 12. Prepare Tax Health Check Report And Discuss It With Key Business Stakeholders (controllership Group And Management) Vii. Deliverables The Independent Party Will Provide The Following Deliverables Upon Completion Of The Tax Health Check: 1. Tax Health Check Report - A Detailed Report Outlining The Findings Including The Potential Tax Risks And Exposures, Conclusions, And Recommendations From The Tax Health Check. 2. Presentation Of The Validation Results To Key Stakeholders, Including An Opportunity For Questions And Discussion. 3. One Day Workshop For Proper Handling Of Bir Audit Including Steps And Processes, Tax Correspondence And Available Tax Remedies. 4. Reviewed Indicative Annual Income Tax Calculation For Cy 2024. Viii. Engagement Fee The Cost Of Engagement Shall Not Exceed Pesos: Nine Hundred Fifty Thousand (php950,000) Inclusive Of All Applicable Taxes And Out-of-pocket Expenses. Payment Shall Be Based On The Submission Of Deliverables As Evidenced By The Acceptance Of Sb Corp. Ix. Payment Scheme/schedule **see Attached Tor X. Contract Period Timeline The Contract Shall Be Effective For Three (3) Months From The Time Of Awarding The Project, With Bi-monthly Updates Provided To Sb Corp. Reporting The Independent Party Will Report Directly To The Controllership Group Headed By The Cg Head Who Will Oversee The Tax Consultancy Activities And Coordinate Communication With The Management Committee (mancom). Confidentiality All Information Provided To The Independent Party During The Tax Consultancy Will Be Treated With Strict Confidentiality And Will Not Be Disclosed To Any Third Parties Without Prior Written Consent From Sb Corp. Xi. Documentary Requirements For Submission To Sbcorp  Company/business Profile  Copy Of Business/mayors Permit  Copy Of Bir Certificate Of Registration  Copy Of Income Tax Return (for Abc Above Php500,000)  Philgeps Registration (red Membership)  Accomplished Omnibus Sworn Statement (in Case Of Corporation, Secretary’s Certificate)  Proposal Xii. Procurement Selection The Consultant Shall Be Procured Through Small Value Procurement Under Section 53.9 Of Irr Of Ra 9184. Xiii. Criteria For Evaluation **see Attached Tor