President Benigno S. Aquino III led the launching Friday of the Philippines Business Registry System (PBRS) in Makati City which is aimed at streamlining business registrations in the country and eliminating red tape.
 
The PBRS is a web-based system that will serve as a one-stop shop for entrepreneurs who want to transact or register their businesses. The computerized registration systems will link several agencies so that applicants can register businesses even without their presence.
 
Interlinked government agencies under the PBR system include the Department of Trade and Industry (DTI), Bureau of Internal Revenue (BIR), Home Development Mutual Fund (Pag-IBIG), Philippine Health Insurance Corp. (Philhealth), Social Security System (SSS) and the Securities and Exchange Commission (SEC).
 
Through the PBRS, sole proprietors can now register their business names, generate or validate their tax identification number (TIN) and get employer registration numbers from the SSS, Philhealth and Pag-IBIG Fund.
 
One of the local government  units (LGU) connected with the system is Quezon City. Caloocan and Mandaluyong are expected to connect to the system in the coming months.
 
The launching ceremony is the first phase of the PBR program. This year, more LGUs and other regulatory offices will connect to the system.  (Full Story 01.27.12)