Closing of Non-profitable Sole Proprietor Business

khalel · 1 Closing of Non-profitable Sole Proprietor Business Mon Jul 08, 2013 12:57 pm

khalel

Arresto Menor

Posts : 2
Join date : 08/07/2013

Hi,

I registered a sole proprietor business (more than a year now) with:
- DTI registration
- Barangay clearance
- Business/Mayor's permit

All these but without BIR registration. It has been non-profitable since the beginning. So I have these questions:
1. What are the procedures that I need to do to close the business?
2. How much will it cost me to close a business?
3. Can I just reatain the DTI registration and let it just expire since it has 5 years expriration?

Please help me. Thank You!

Ladie

Ladie

Prision Mayor

Posts : 196
Join date : 19/10/2010

To my layman understanding, only if registered with BIR that you have to file a closure of your business at BIR. Anyway, why not go directly to DTI and ask them since you are more concern on its effectivity duration? Why do you worry about the mayor's permit? Is it not only good for one year? If so, then let it expire and close your establishment.

___________
Sharing only my opinion and some knowledge based on experience.

attyLLL

attyLLL

moderator

Posts : 21671
Join date : 12/04/2010
Location : https://www.facebook.com/BPOEmployeeAdvocate/

you will also have to file a notice at the mayor's office

khalel

khalel

Arresto Menor

Posts : 2
Join date : 08/07/2013

Thank you for the reply Sir Ladie and Sir attyLLL.

Sir attyLLL, is there any document to submit upon giving a notice at the mayor's office?

Thanks!

Lunkan

Lunkan

Reclusion Perpetua

Posts : 1356
Join date : 11/07/2013

Why close it?
Perhaps you will need it later, and then you will have to pay registration fee again, if you have closed it.)

(I have one in an other country, which I have kept many years (beside the one I have running for other type of business.) I just write "Inactive" at a tax paper once a year, which isn't much work Smile

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Closing of Non-profitable Sole Proprietor Business

1 Closing of Non-profitable Sole Proprietor Business Mon Jul 08, 2013 12:57 pm

khalel

2 Re: Closing of Non-profitable Sole Proprietor Business Tue Jul 09, 2013 9:25 pm

Ladie

3 Re: Closing of Non-profitable Sole Proprietor Business Wed Jul 10, 2013 11:36 pm

attyLLL

4 Re: Closing of Non-profitable Sole Proprietor Business Thu Jul 11, 2013 7:17 pm

khalel

5 Re: Closing of Non-profitable Sole Proprietor Business Thu Jul 11, 2013 9:41 pm

Lunkan

6 Re: Closing of Non-profitable Sole Proprietor Business

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