BIR speeds up business closure process; tax clearance ready in 3 days

MANILA, Philippines — In another move aimed at cutting through bureaucratic red tape, the Bureau of Internal Revenue (BIR) has rolled out new rules meant to make it easier for businesses to formally shut down and cancel their tax registration. Issued through Revenue Memorandum Circular (RMC) No. 47-2026 on May 19, the guidelines form part