THE Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular (RMC) 15-2021 to announce the relaunching of the Central Business Portal (CBP).

The CBP is an online system which serves as a central system for receiving applications and capturing application data involving business-related transactions from different government agencies (SSS, BIR, SEC, PhilHealth and Pag-ibig) and a platform that will promote the use of the electronic payment systems for the said agencies.

The CBP has the following features:

1. Registration of Corporations with Securities and Exchange Commission (SEC) and issuance of the corresponding Company Registration Number (CRN);

2. Issuance of Taxpayer Identification Number (TIN) of new corporation;

3. Identification of the national internal revenue taxes which the new corporation will be liable to;

4. Payment of the Annual Registration Fee (ARF) of P500 and Loose Documentary Stamp Tax (DST) of P30 through the ePayment facilities or manually at the Revenue District Office (RDO). New corporations opting to pay ARF and loose DST manually shall complete its business registration at the respective RDO by submitting the following CBP generated documents printed by the taxpayer.

5. Generation of BIR electronic Certificate of Registration.

For its initial implementation, the CBP shall be available to the following domestic corporations:

1. Corporations with two to four incorporators;

2. Regular incorporations whose incorporators are juridical entities and/or the capital structure is not covered by the 25 percent to 25 percent rule; and

3. One person corporation.

Please be guided accordingly.

 

Source:

P&A Grant Thornton

Certified Public Accountants

 

As published in SunStar Cebu, dated 03 February 2021