MANILA – The Philippine Chamber of Commerce and Industry (PCCI) has lauded a new Bureau of Internal Revenue (BIR) policy that makes it easier for businesses to close or cancel their registrations, saying it improves efficiency and supports taxpayers.
The reform is contained in Revenue Memorandum Circular No. 47-2026, which reduces documentary requirements, halts further penalty buildup once closure documents are fully submitted, and speeds up the release of tax clearances for qualified taxpayers.
PCCI said the measure supports the objectives of the Ease of Paying Taxes Act and strengthens efforts to assist enterprises from start-up to closure stages.
PCCI president Perry Ferrer welcomed the initiative, saying it responds directly to the needs of the business community.
He stressed that a simplified closure system helps taxpayers properly settle their obligations without being burdened by additional penalties during processing.
Meanwhile, PCCI director for taxation Alfredo Yao said the new rules represent a “practical reform” that improves compliance by making the process more efficient and less burdensome for taxpayers.
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