Every January 2, I usually prepare all of my current Business Documents. I’m registered as a Sole Proprietorship. This means that I have to renew my documents with both the Local Government Unit / Municipal Hall and with the Bureau of Internal Revenue or BIR. Usually, I need to go to both places, which is such a hassle!
But guess what? This year, because of Taxumo, life became easier! You can now renew your 2018 Certificate of Registration or COR (file and pay form 0605) via Taxumo!
What Happens If I Don’t Renew My Certificate of Registration?
To avoid penalties, the deadline for renewing your Certificate of Registration would be January 31. Failure to renew this would incur fines ranging from PHP 5,000 to PHP 20,000.
What Is the Standard Process of Business Renewal vs. the Taxumo Way?
The standard process for renewing your Certificate of Registration would be:
- Go to your RDO (Revenue District Office) and submit a fill-out BIR Form 0605
- The officer of the day will then compute the fees that you need to pay
- You need to settle the payment at an Authorized Agent Bank (AAB), duly accredited by the BIR in your RDO.
Note: For more information, check out this article: Here’s What You Need to Do to Renew Your Business in the Philippines
The standard process could take hours, because of the number of people who will have to renew. If you value your time, just do it online!
With Taxumo, you just pay your Certificate of Registration online, without the stress.
Here are the Steps to Renew Your COR via Taxumo:
If you already have an existing Taxumo account, all you need to do is activate the 0605 Form on your company profile.
To do this, simply follow the steps listed below.
- Go to your company profile
- Scroll down until you see the forms that you need to file.
- Check on the 0605 form and click the save changes button.
- Go to your account dashboard and click on the file button.
- Fill-up the form details (applicable date if you’re paying for 2019 is Dec. 31, 2019)
- Choose your preferred payment method and click pay.
- That’s it! You’re done.
It’s super easy!
Note that this process is only for renewing your BIR Certificate of Registration. Again, if you are a sole proprietorship, have a partnership or corporations, you still have to renew you other business documents (baranggay clearance and business permits) in the LGU / Municipal hall.
If you have any questions, you can always message Taxumo using their chatbox at their site: https://www.taxumo.com
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