Summary
RMO No. 26-2023 prescribes how BIR offices request corporate information, including beneficial ownership information, from the Securities and Exchange Commission under a Data Sharing Agreement.
Key points
- Information obtainable from SEC. The BIR may request details of incorporators, stockholders, directors, trustees, members and officers of SEC-registered corporations, including residential address, date of birth, nationality, TIN and percentage of ownership. It may also request beneficial owners, partners in a partnership and information on other SEC-licensed persons.
- Request channel. Requests go to the Data Protection Officer, for the attention of the alternate DPO, through the International Tax Affairs Division (ITAD), in the format of Annex A. Until a web-based application exists, they are sent to the email address boinfo_itad@bir.gov.ph.
- Evaluation and letter-request. The alternate DPO assigns a reference number and checks the request for form and substance. A complete request becomes a letter-request to the SEC in the format of Annex B.
- Data protection. Personal data is handled under RMO No. 1-2020, the Data Privacy Act of 2012 and its rules. Files with personal data are encrypted and sent by secure email or cloud storage, and paper files go by registered mail or authorized parcel post, with fax avoided as much as possible.
- Confidential use. Information obtained is kept confidential under the Data Privacy Act and Section 270 of the Tax Code. It is used only for the purpose stated in the letter-request.
Who is affected
- BIR offices requesting corporate information
- Data Protection Officer and alternate DPO
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.