BIR now cuts business closure process to 3 days for small taxpayers

CEBU CITY, Philippines — The Bureau of Internal Revenue (BIR) has simplified the process for closing businesses and cancelling tax registrations, allowing qualified small taxpayers to secure tax clearances in as fast as three working days. This new setup is under a new reform aimed at easing the burden on entrepreneurs who have already stopped operations. The new policy addresses a long-standing problem faced by many small business owners who continue to accumulate penalties, open cases, and compliance obligations even after operations have ceased because they failed to formally close their registration with the BIR. READ: BIR-7: Use of fake […]... Keep on reading: BIR now cuts business closure process to 3 days for small taxpayers

Original source: Philippine Daily Inquirer