CLOSE OR RETIRE BUSINESS

The process of closing or what is commonly known as retiring a business is accomplished through both the local and national government. The retiring of a business at the BIR, SEC, and DTI levels must be done through the respective units. Retiring of a business at the Barangay and LGU levels can be facilitated through this website. 

REQUIREMENTS:

  1. Formal letter of intent to close business addressed to the City Treasurer’s Office copy furnished the Business Permits and Licensing Department
  2. Original copies of Tax Bill and Official Receipts worth 3 years
  3. Original copy of Latest Business Permit
    • If Single Proprietorship, original Affidavit of Closure with exact date of closure.
    • If Partnership, original partnership dissolution with exact effectivity date of closure signed by all partners.
    • If Corporation, original Secretary’s Certificate or Board Resolution on closure or transfer of business with exact date of closure.
  4. Valid ID (present original and submit photocopy)
    • If Single Proprietorship, valid ID of the owner
    • If Partnership, valid IDs of all partners
    • If Corporation, valid ID of the President
  5. Barangay Certificate with exact effectivity date of closure. The Barangay Clearance and Certificate of Closure can be requested from the Barangay by submitting Letter of Request for Retirement (possibly clickable leading to a sample template of the letter).
  6. BIR Certificate of Registration (present original and submit photocopy)
  7. Certified Breakdown of Sales, if there are two (2) or more lines of businesses/ branches and if AFS is consolidated
  8. Proof of business tax payment/ tax bill/ permit issued by the other LGU where other operations are situated (present original and submit photocopy)
  9. Latest ITR with AFS on or before closure from the last payment of business operation (present original and submit photocopy)
  10. VAT Returns or Percentage Tax Returns (present original and submit photocopy)
  11. Book of Accounts (to be presented upon evaluation/ actual inspection and examination)

Estimated processing time: 3 to 7 days.

REMINDER: If you have not completed the process of business closure or retirement, this means the business is still operational. And if your business is still in operation, and does not comply with the requirements, you will be penalised accordingly.


CONTACT NUMBERS OF TREASURY OFFICE


Mr. Ed Villanueva
Acting City Treasurer
Annex Building, Quezon City Hall Compound,
8988-4242 loc. 8157

Business Retirement Section

Mr. Danilo Santiago
Acting Section Chief, Business Retirement
8988-4242 loc. 8264/8266