Tax Alert No. 11 [Revenue Memorandum Circular (RMC) No. 15-2021 dated 27 January 2021]

Announcing the Availability of Central Business Portal

The Commissioner of Internal Revenue has issued RMC No. 15-2021 to inform the public of the availability of the Central Business Portal (CBP).

CBP is an online system that serves as a central system to receive applications and capture application data involving business-related transactions from the Securities and Exchange Commission (SEC), Bureau of Internal Revenue (BIR), Philippine Health Insurance Corporation (PhilHealth) and PAG-IBIG. It also serves as a platform to promote the use of electronic payment systems for different government agencies.

The CBP has the following functions:

• Corporation registration and issuance of corresponding Company Registration Number with SEC;
• Taxpayer Identification Number issuance for new corporations;
• Identification of the national taxes which the new corporation will be liable to;
• Payment of Annual Registration Fee and Loose Documentary Stamp Tax through ePayment facilities or manually at Revenue District Office (RDO) - if opting manually, new corporations shall complete its business registration at the respective RDO by submitting CBP generated documents and Checklist of Documentary Requirements for Corporation, CBP Unified Application Form, Accomplished Tax Type Questionnaire and Pre-filed BIR Form No. 0605; and
• Generation of electronic Certificate of Registration (COR) - taxpayer shall proceed with the RDO indicated in the COR where it shall buy its BIR Printed Receipts/Invoices or may apply for Authority to Print its own receipts/invoices.

Initially, CBP shall be available to the following domestic corporations:

• Those with two (2) to four (4) incorporators;
• One Person Corporation; and
• Regular corporations with juridical incorporators and/or with capital structure not covered by the 25%-25% rule.

You may access the full version of the Circular and its annexes through the BIR website.