Sole proprietors with no existing TINs can now register their businesses with the Bureau of Internal Revenue (BIR) through the Business Name Registration System (BNRS) of the Department of Trade and Industry (DTI) in their localities.
This was realized last March 15, 2022 with the integration of the Central Business Portal (CBP) with the DTI’s online registration system.
The CBP is a project of the Anti-Red Tape Authority (ARTA) in coordination with the Department of Information and Technology (DICT) that was relaunched last year to cater to the centralized and online registration of Corporations/Partnerships with different concerned government agencies such as Securities and Exchange Commission (SEC), BIR, Philippine Health Insurance Corporation (PhilHealth) and Home Development Mutual Fund (HDMF).
The integration of the two portals means that it would not only take care of the registration and approval of business names with DTI, it would also issue Taxpayer Identification Number (TIN) to sole proprietors with no existing TINs, identify national internal revenue taxes which the sole proprietor is liable to pay, accept payment of the P500 Annual Registration Fee and Loose Documentary Stamp Tax (DST) of P30.00 electronically or manually, and issue an electronic Certificate of Registration (COR) which can be printed in A4 paper size by the taxpayer at their end for those who paid the fees online.
After securing the BIR electronic COR through the CBP, the taxpayer shall proceed to the Revenue District Office to buy BIR-printed Receipts/Invoices in order to start business operation immediately or may apply for an Authority to Print (ATP) own receipts/invoices to be printed by BIR-Accredited Printers.