Sunday, June 25, 2023

Reminder: Replacement of Ask for Receipt" to "Notice to Issue Receipt/Invoice (NERI), up to June 30, 2023 Only

 Late Reminder! Better late than never, everyone who have not complied yet with the RMO No. 43-2022, you have until June 30, 2023 to comply.

The RMO is about the replacement of  the former notice to the public  "ASK FOR RECEIPT" to "NOTICE TO ISSUE RECEIPT/INVOICE" (NERI).

Visit your the RDO where you are registered to get your NERI.




OLD





NEW



To be able to replace the old issuance of the “Ask for Receipt” Notice, all registered business taxpayers are required to update the information of their registration. It is only after such an update that the Notice to Issue Receipt/ Invoice shall be released. 

It is important that there must be a designated official company email address in the registration information as this shall be the primary means of communication of the Bureau of Internal Revenue to be able to send letters, notices, orders, and the like.  



How to Request for No Derogatory Information From Securities and Exchange Commission - SEC

 What is a Certificate of No Derogatory Information?

Derogatory information is any reported negative credit information about a corporation and sometimes other interested parties require a Certificate of No Derogatory Information - CNDI to ascertain good business relations.

To get a CNDI from SEC, first secure a monitoring clearance from the Compliance Monitoring Division. Email a the request to cmd_amendment_monitoring@sec.gov.ph and attach the requirements such as;

        1.  Latest due Financial Statement and any amendments thereto (duly stamped received by BIR and SEC)

        2.  Latest due General Information Sheet and any amendments thereto (duly stamped received by SEC)        

        3.  Articles of Incorporation and By-laws (its amendment, if any)    

        4.  Copy of Registration of Stock and Transfer Book/Membership book    

        5.  Proof of compliance to SEC MC28, series of 2022.

It means that any un-complied or unsubmitted prior reports need to be submitted first and pay corresponding penalties for late submissions, before a issuance of monitoring clearance.

Upon issuance of the monitoring clearance send an email to cfrd_application02@sec.gov.ph to formally request for the CNDI, using the SEC FORM 2015 - 001 (Downloadable from SEC site), and the monitoring clearance as attachment to the request.

Please note that other documents may be requested but most of the the time the above requirements as enumerated are enough.


Pwede na bang umpisahan ang Business matapos iparehistro ito sa Department of Trade and Industry (DTI)?

 


Ang sagot ko ay Oo.

SUBALIT, datapwat, pero;

Dapat pa rin ipareshisto ang business sa Bureau of Internal Revenue (BIR) sa loob ng 30 days upon issuance of DTI Certificate of Registation, at kumuha ng kaukulang Business permit to operate sa Local Government Unit (LGU) na sumasakop sa location ng business.

Importance of registering the business with DTI.

Under Republic Act (RA) 3883, it is illegal to use a business name without registering first with DTI. DTI Registration is a guarantee for any individual or person, the legal right to use specific business name for any kind of business. But bear in mind that DTI Registration is not a form like business permit to operate.

Business permit to operate is deferent from just having the privilege to use such name for the business.

Business name is important, because it must be the same name that will appear in business permits to be issued by LGU and official receipts authorized by the BIR for issuance to its customers or to anyone patronizing the business.

Therefore, not having the business name registration, the business can never be issued a business permit to operate and as such it can never be registered to the BIR to obtain the necessary receipts that are needed to legally recognize business transactions.

The basic registrations and permit needed to operate a business legally are as follows.

1.      DTI Registration for Sole proprietor it can be done online 

2.      SEC (Securities and Exchange Commission) to where business name for corporations and partnerships form of business has to register.

3.      Business permit to operate from LGU or local government unit

Depending on the type of business, there may be other government regulating agencies that require registration, accreditation and or License to Operate (LTO); for example, is a pharmacy or drugstore that requires LTO from Food and Drugs Administration (FDA) as per FDA Circular No. 2014-025.

May mga business talaga na pwede nang i-operate prior to registration and issuance of permit provided that the owner must secure the required registration and license to operate within the 30 days upon inception of the business to avoid penalties if caught operating without the required registration, accreditations and licenses to operate.