The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest trade group, has welcomed the Bureau of Internal Revenue’s (BIR) move to simplify the closure and cancellation of business registrations, describing the reform as timely and responsive to taxpayers’ needs.
The BIR has made it easier for micro, small and medium enterprises (MSMEs) ceasing business operations to cancel or close their BIR registration, which can now be done by complying with the documentary requirements, either digitally or in person.
Revenue Memorandum Circular (RMC) 47-2026, released on 19 May 2026, prescribes the simplified and streamlined guidelines and procedures in closing or canceling business registration with the BIR pursuant to the provisions of the “Ease of Paying Taxes Act.”
The Circular explains that the taxpayer’s registration will be canceled “upon mere filing and registration of the complete requirements… either electronically or manually, with the Revenue District Office (RDO) where the taxpayer is registered.”
The process requires the MSME to submit an application for closure/cancellation of business registration, together with the required documents, to the RDO where its head or branch office is registered.
Tax settlement eased
PCCI said the policy “complements the objectives of the Ease of Paying Taxes Act and reinforces the importance of supporting enterprises throughout the entire business life cycle — from business registration and operation to proper closure.”