Bureau of Internal Revenue

Processing of request for corporate information, including beneficial ownership information, with the Securities and Exchange Commission

Jul 19, 2023

Series
This post is part 8 of the "Think Tax August 2023" series
Regulations
  • Revenue Memorandum Order No. 26-2023 Jul 19, 2023

Pursuant to the Data Sharing Agreement (DSA) between the BIR and the Securities and Exchange Commission (SEC), the BIR is allowed to obtain from SEC the following information on corporations and other registered/licensed entities:

  1. Complete name of incorporators, stockholders, directors, trustees, members, officers of a SEC-registered corporation, including their specific residential address, date of birth, nationality, taxpayer identification number, and percentage of ownership;
  2. Beneficial owners of SEC-registered corporations;
  3. Partners in a partnership; and
  4. Information on other persons licensed by the SEC.

All personal data obtained pursuant to the DSA shall be used, processed, disclosed, and transferred following the policies and guidelines for personal data protection and security prescribed under the Data Privacy Manual of the BIR, in compliance with the Data Privacy Act and its implementing rules and regulations. Files and documents containing personal data shall be encrypted and transferred preferably via a secure email facility or via the cloud storage associated with the official email address.

Personal data stored in paper files or any physical media shall be transmitted only through registered mail or, where appropriate, authorized parcel post service.

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