One of the most important tasks every business owner needs to do is to register their business with the BIR or the Bureau of Internal Revenue. According to expert accounting services in the Philippines, if you are a new business owner, you cannot start or operate your business without having a TIN or tax identification number. You can get your TIN through registration with the BIR. This has nine digits and it is assigned to individuals and corporations to track their tax payments.
After registering with the BIR, you will receive a COR or Certificate of Registration, Authority to Print, and Books of Account. The documents mentioned are all important in keeping your business and financial services secured. It is important to note that all types of businesses need to be registered with the BIR regardless of size.
The process may seem daunting, but if you just have the required documents on hand, you can avoid delays. After you have submitted the requirements, your application will be processed in 3-5 business days. If you don’t encounter any issues with your application, expect to get your COR or Certificate of Registration as soon as possible
Registration Requirements
Sole Proprietorship:
- BIR Registration Form 1901
- Valid ID (government-issued ID)
- BIR Printed Receipt/Invoice
- Registration fees
PHP 500 Annual Registration Fee
PHP 30 Loose Stamp/s to affix on the COR or Certificate of Registration
Corporation and Partnerships:
- BIR Registration Form 1903
- Certificate of Incorporation from SEC or Securities and Exchange Commission
- Articles of Incorporation or Articles of Partnerships
- Registration fees
PHP 500 Annual Registration Fee
PHP 30 Loose Stamp/s to affix on the Certificate of Registration
Other requirements you may need to submit only if it is applicable to you:
- DTI or Department of Trade and Industry Certificate
- Work Visa if you are a Foreigner
- Agreement and Documents for Franchise if you want to start a franchise business
- Memorandum of Agreement for a Joint Venture
- Certificate of Authority if you are registered as a BMBE or Barangay Micro Business Enterprise.
- Registration Proof or Permit to Operate
- SPA or Special Power of Attorney if you are making transactions through a representative (requires any government-issued ID of the authorized representative)
To make sure you have all the documents for registration, you can visit BIR’s website or contact them directly. You can also seek guidance from accounting and audit services in the Philippines. They are well-versed in the business registration process.
In-Person Business Registration Guide
Get ready for in-person business registration at the Revenue District Office or RDO near your place of business. Be sure to do the following:
- Prepare all the required documents.
- Submit all pertinent documents to the concerned BIR Revenue District Office.
- Pay the necessary fees
- Wait for BIR to notify you that your Certificate of Registration or Form 2303 is ready.
- Upon receiving the Certificate of Registration, you need to complete your application for Authority to Print Receipts and Invoices. The BIR Form 1906 is also required for registering your books of account. Afterward, you should attend the taxpayers’ initial briefing.
Online Business Registration Guide
If you find conventional business registration a hassle, BIR has offered an option for you to register your business online using theNewBizReg Portal. This portal allows you to send your application, documentary requirements, and fees through email. Tax services in Manila note that your application will be manually processed within three working days from the date you will receive an acknowledgment receipt.
- Get your documents ready by scanning them and making sure they are in PDF format with a size not larger than 4MB.
- Visit the NewBiz Reg Portal: https://www.bir.gov.ph/newbizreg/.
- Complete the form by filling in your business details
- Click ‘Email your Application’ and your email program will be opened.
- Make sure to copy the generated email information in the portal and attach your requirements.
- Send your email to the ‘To’ email address in the NewBizReg Portal.
After you have completed all the steps above, wait for BIR to confirm their receipt of your documents and pay the registration fees through any of BIR’s ePayment channels. Make sure you respond to BIR’s emails about your business registration to have a smoother and quicker process.
It is crucial to register your business. Avoid fines and imprisonment, make it easier to apply for financial services, and have more opportunities by having a solid and legal reputation. You will also get a chance to contribute to society because the taxes that you pay help fund government services.
Ready to register your business in person or online? Don’t navigate the process alone! Contact our accounting services in Pasig today for guidance. Let’s make your business registration hassle-free!
