RMC No. 41-2018: Clarifies the issuance of Taxpayer Identification Number (TIN) for corporations relative to its corporate term under the Corporation Code of the Philippines

Summary

RMC No. 41-2018 clarifies the policies on issuing a Taxpayer Identification Number (TIN) to corporations in relation to their corporate term under Section 11 of the Corporation Code of the Philippines.

Key points

1. Extended or corrected registration. A corporation or partnership with an SEC-approved extension of corporate life before expiration, or a second SEC COR correcting typographical errors, is not issued a new TIN. It updates registration using BIR Form No. 1905 with the new SEC COR and Amended Articles of Incorporation.
2. Expired or revoked corporations. A corporation whose SEC registration is revoked or whose term has expired ceases to exist as a juridical entity. If re-registered under the same name, it is a new corporation with a new SEC number and new pre-generated TIN.
3. Confirming the new TIN. The BIR confirms the pre-generated TIN using BIR Form No. 1903, for the Certificate of Registration and Authority to Print, together with cancelling the old TIN under existing procedures.
4. Old TIN and Large Taxpayers. The old TIN is used during liquidation or winding-up and is cancelled when the BIR issues clearance. A Large Taxpayer status carries over to the newly-registered corporation, which registers with the LT Division of the old corporation.
5. Mergers and consolidations. In a merger, the surviving corporation keeps its TIN and the merged corporation’s TIN is cancelled. In a consolidation, a new TIN is issued and the consolidated corporations’ TINs are cancelled.

Who is affected

• Corporations and partnerships whose corporate term is extended, expired or revoked
• Merging and consolidating corporations

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.