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      Bureau of Internal Revenue

       

      The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 47-2026, dated 19 May 2026, prescribing simplified and streamlined guidelines and procedures in the closure and/or cancellation of business registration with the BIR

      Below are the salient points of the Circular:

      1. List of covered business taxpayers registered with the BIR, whether domestic or foreign, resident or non-resident. that have permanently ceased business operations or have otherwise become subject to closure or cancellation of business registration.
      2.  Modes and venue for filing of the application.
      3. List of documentary requirements and the requirements when filed by a taxpayer’s representative.
      4. Period of filing and payment of the final or short-period tax returns
      5. Registration of the taxpayer shall be cancelled upon mere filing and submission of the complete requirements, either electronically or manually, with the RDO where the taxpayer is registered.
      6. Penalties for non-filing of returns shall not accrue after the submission of the required documentary documents.
      7. Taxpayers who cease business without submitting the documentary requirements for closure and/or cancellation of their business registration with the BIR, shall continue to be liable for all their tax obligations until closure and/or cancellation of their business registration is completed with the BIR.

      The RMC shall take effect immediately.

      Here is the link to the full text of the issuance: RMC No. 47-2026