One-stop registration launched for single-person corporations
THE government launched Friday its National Business One-Stop Shop (NBOSS), which offers end-to-end business registration for one-person corporations.
The Anti-Red Tape Authority (ARTA) and the Department of Information and Communications Technology (DICT) launched NBOSS at the Securities and Exchange Commission building in Pasay City.
The project consolidates the business-registration requirements of the SEC, Bureau of Internal Revenue (BIR), Social Security System (SSS), Philippine Health Insurance Corp. (Philhealth), and Home Development Mutual Fund (Pag-IBIG) for one-person corporations.
ARTA said in a statement that it hopes the program will improve the Philippines’ standing in the Starting a Business indicator of the World Bank’s Doing Business Report.
ARTA oversees national policy for reducing red tape and facilitating ease of doing business.
“In the 2020 Doing Business Report, the Philippines improved its ranking to 95th out of 190 economies from the 124th spot in 2019. The country, however, dropped to the 171st from the 166th in 2019 on the Starting a Business indicator. In order to address this slip in ranking, ARTA sped up the establishment of the NBOSS, among other initiatives,” the agency said.
NBOSS, ARTA said, promotes the use of electronic payment systems for registration and filing fees.
ARTA also said NBOSS will soon be made available in more locations.
