Registering with the Bureau of Internal Revenue is one of the basic requirements to start a business. It is upon the commencement of the business that the BIR registration should be done. According to draft revenue regulation on “Consolidated Revenue Regulation on Primary Registration, Cancellation and ITS Updates”, commencement of business shall be reckoned from the day when the first sale transaction occurred or within thirty (30) days from the day Mayor’s Permit is issued, whichever comes earlier, by the particular Local Government Unit (LGU) where thetaxpayer is intending to hold its business transactions. The place of registration shall be done at the Revenue District Office where the business shall conduct its operations.
The requirements for BIR registration of the business shall basically be the following:
1. Mayor’s Business Permit/PTR issued by the LGU;
2. Lease Contract, if applicable;
3. DTI Certificate of Registration of Business Name, if a business trade
name shall be used;
The TIN to be indicated in the application for registration shall be the TIN of the sole proprietor.
The second stage of BIR registration, the applicant shall:
1. pay registration fee, if applicable ;
2. secure Certificate of Registration (COR);
3. get “Ask for Receipt†notice, if applicable; and
4. attend the taxpayer’s initial briefing to be conducted by the BIR for new registrants in order to apprise them of their rights and duties/responsibilities.
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