Time Table for Cessation of Business

A. Local Government Unit

1. Brgy. Level
Requirements Needed:
1. Valid ID of the owner of the business
2. Barangay Clearance
3. Letter of Request for Retirement/Closure of Business stating the following:
 Date of Application
 Contact details of the addressee (Barangay Hall)
 Name of the Applicant
 Registered business name
 Date of registration with the Barangay
 Business permit number
 Reason/s for closure of business
 Proposed date of closure
 A declaration that the business has no outstanding obligation or liability with the barangay
4. Authorization Letter for authorized representative
5. Photocopy of 1 Valid ID of the sole proprietor with specimen signature
6. Original and Photocopy of 1 Valid ID of the authorized representative with specimen signature
7. Payment of Fees

Time Frame: 1-2 weeks

2. City Hall
Requirements Needed:
1. Brgy. Clearance
2. Valid ID of the owner of business
3. Barangay Certificate of Closure indicating Date of Closure
4. Latest Business Permit
5. Affidavit of Closure, must state the following:
 Name of the owner
 Address of the business
 Registration number from DTI and/or BIR
 Date of Closure
 Reason for Closure
 That the business has no outstanding liabilities
6. BIR Certificate of Registration
7. Latest Audited Financial Statements and Income Tax Returns for 3 preceding years
8. Latest VAT or Percentage Tax Returns
9. Books of Accounts
10. Payment of Assessment Fees
11. If with branches, proof of business tax payment from the LGU governing the branches

Time Frame: 1-2 months

Fees: P20,000 in total, P10,000 for each company.

B. Bureau of Internal Revenue
Requirements Needed:
1. Letter of Request for Retirement/Closure of Business, must state the following:
 Date of application
 Contact details of the addressee (RDO where registered)
 Name of the applicant
 Registered business name
 Date of registration with the BIR
 Certificate of Registration Number
 Reason/s for closure of business
 Proposed Date of Closure
 A declaration that the business has no outsranding obligation or liability with the BIR
2. BIR Certificate of Registration
3. Books of Accounts
4. Inventory of Unused sales invoices and official receipts
5. Ask for Receipt Poster
6. Latest Audited Financial Statements and Income Tax Return for 3 preceding years
7. Duly Accomplished BIR Form 1905
8. City Hall Certificate of Closure indicating Date of Closure
9. Latest Authority to print issued and Form 0605 (Annual Registration Fee)
10. CMS Verification for open cases
11. Special Power of Attorney for Authorized Representative
12. Photocopy of Valid ID of Proprietor with 3 specimen signatures
13. Photocopy of Valid ID of Authorized Representative with 3 specimen signatures
14. Payment of Assessment Fees

Time Frame: 2-3 years

Fees: P20,000 in total, P10,000 for each company.

C. Department of Trade and Industry
Requirements Needed:
1. Letter of Request for Cancellation of Business Name, must state the following:
 Date of Application
 Contact details of the addressee (DTI Head Office)
 Name of the owner of business
 Registered business name
 Date of registration of business name
 Certificate of Registration Number
 Reason/s for the closure of business
 Proposed Date of Closure
2. Affidavit of Cancellation of the Registered Business Name
3. Original copy of the business name certificate of registration
4. Affidavit of Loss of the Business Name Certificate or Certificate of Registration, if applicable
5. Authorization Letter for authorized representative
6. Original and Photocopy of 1 Valid ID of the sole proprietor with specimen signature
7. Original and Photocopy of 1 Valid ID of the authorized representative with specimen signature

Time Frame: 1-2 weeks

Fees: P10,000 in total, P5,000 for each company

*Time Frame are estimated based on complete documents provided.