PRC License Renewal

Technically, the long and tedious renewal of PRC license is quite over.  Isn’t it? Oh yes, thanks to the technology provided by the PRC Online.  However, since the old fashion way of license renewal is still available, I preferred renewing it manually.  I repeat, manually. So people reading this blog, this is for your manual eyes only, okay?  🙂

So there, lets start…

Step 1 –  Early bird catches worm, thus, go to the PRC (Professional Regulation Commission) main building early to avoid the long line.  However, given the organize renewal procedure, I bet the long line is not a problem anymore.

I entered the PRC main building at around 9AM.

prc building

For those who are not familiar with  Manila area, you can check google map.  Anyhow, what’s important is if you see these streets you are on the right track.


Step 2 – After entering the PRC building, go straight to the Public Assistance Counter and get application form.  Other blog sites , specially the old postings, will require you to go straight to window Q or R to get a renewal form.  In my case, the form is already available at the Public Assistance Counter.  Oh yes, this just July 2016 and purely fresh.


Please take note, application form provided by PRC is all good whether its for renewal, duplicate or original IDs.


By the way, before I forget, please bring passport size picture with name tag (your name and take note your real name not FB name, okay). But don’t worry, if you fail to bring one, you can always go to those photo booth in and outside of the PRC building to take care of your problem.  The cost of ID picture is about Php60.00, others is at the range of Php80.00 – Php100.00.  Make sure to look good in your picture, yep, the same picture will be used on your new PRC license.   Attach the ID picture  and fill out the form and your ready to go to the next step.


Step 3 –  Go inside the PRC building and proceed to window 27, which is located at the ground floor.


Submit the application form including your expired PRC license to window 27 for assessment .  The cost of renewal depends on your profession and years of non-renewal. Mine, being a CPA and my PRC licence is valid until 2013, I paid Php1,000.00 for the cost of renewal. Thus, the Php1,000.00 is good for 2013 to 2016.

Step 4 – Next wait for your name to be called at window 31 and receive your assessment. Now, this is the part your getting excited because you already spent hours of waiting and you wanted to get a hold na of your new PRC license ID.  But don’t worry, its just an hour or two from the time you entered the PRC building.


Really, no exaggeration,  I admire this new procedure, its kinda swift now.  Oh, there, after an hour or so  your name was called and its now pay time.

Step 5 – Proceed to the cashier and pay the necessary renewal fee.  The fee you will pay is the amount provided by the assessment in window 31.

IMG_0126.JPG The cashier will issue Official Receipt for the amount you paid.   Payment will take a lil more than minutes for there are four windows accommodating and receiving payments.

Step 6 – After paying the necessary fee, proceed to window 22 and present your Official Receipt for printing of your PRC license.

The assigned staff will tell you what time your PRC ID will be available for pick up.  Mine, I was told to go back 2Pm of the same day.



At this time, its close to 12 noon of processing and waiting. This is based on my experience.

Eventually, you will notice your stomach is already complaining, this is the right time to get a break and have lunch or eat something to fill in that empty stomach while waiting.

Perhaps for those applicant who arrived past 12 noon or so, the availability of their PRC ID is on the next working day.

Step 7 – Remember to come back on the time set to pick up your PRC ID.  But of course you can always come back at a later time or day, but why wait, remember you are so excited na to get a hold of your new PRC License ID. And by the way, this is the last step.

Present your OR and sign the log sheet to signify acknowledgment of your new PRC ID and viola your ID is now yours!


So there… easy as one, two, three! Renewed!







SEC i-Register

This blog had been receiving a lot of queries about on-line SEC registration.  However,  sad to say the SEC i-Register only offers reservation of your proposed company name or selected name for a non-stock or your desired name for a certain corporation for a particular industry.

SEC Registration Requirements for Stock Corporation

Here are the requirement that you need to prepare in connection with the registration of a stock corporation with the Philippine Securities and Exchange Commission (SEC).



3) BANK CERTIFICATE OF DEPOSIT OF PAID-UP CAPITAL (notarized in the place executed)




7) UNDERTAKING TO CHANGE NAME (not required if provided in the Articles of Incorporation)

HOWEVER, additional requirements such as: (1) Indorsement/clearance from other government agencies, if applicable (2) For corporations with foreign equity, submit proof of inward remittance by non-resident aliens and foreign corporate subscribers who    want to register their investment with BSP; (3) For corporations with more than 40% Foreign equity, submit SEC Form No. F – 100; (4) For corporations with Phil. Economic Zone Authority (PEZA), Subic Bay Metropolitan Authority (SBMA) or other economic zones application, attach Certificate of Authority or indorsement from said government agencies.

Of course, as of my last inquiry,  the cost associated with the registration are (1) Filing Fee:  1/5 of 1% of the Authorized Capital Stock but not less than Php1,000.00 (2) By Laws: Php510.00 and (3) Legal Research Fee:  1% of Filing Fee but not less than Php10.00.


How about “knowledge” as an investment?

“An investment in knowledge always pays the best interest by Benjamin Franklin” – this quote,  its one of my favorites!.  Truly, knowledge pays the best interest, whether it’s about arts, culture, politics, business, finance, etcetera, etcetera.

However, I won’t be talking about “knowledge” per se.  Knowledge, it’s wide. It’s vague like the universe. What I would like to share is about how  to invest in knowledge, specifically in business and finance. Others say it’s so simple. Some do not agree. But for me, investment in knowledge is all about “education”. Yep, yep, education…and the first step to it is by educating yourself about “personal” finance.

There are plenty of books out there about business or personal finance. Some books are neatly written by some great and intelligent authors.   Some books are well explained. Some writers even discussed it with greater details like banking, investing, saving, spending and insurance plus great examples. I have books of my choice though but that is not the point.  It’s not my list of choices or what books I read. The point still is “education and your attitude towards it”.  Yes, it’s about you! Your attitude of liking to read, to be well-informed and to learn more.  It’s the how you wanted to enhance your skill. Perhaps, its simple, right? But can you? Do you like to?

The more you know, the more effective you will be in managing and saving your finances.  This is an overused statement. We’ve heard this before. We have heard it from our parents, from our teachers, from friends maybe.  Perhaps some of those people are even dead by now.

However, still, it is the same. It’s just is. The path to investing in knowledge is by way of reading, learning, from others, from informal talks to formal discussion and seminar. I must say that people who are well-informed can spot a good investment opportunity and… and are not easily scammed.

Again, invest in knowledge because knowledge is power.  And for business minded people, the more you know, the more you earn!



Hey, what about BIR Revenue Regulations (RR) 15-2010!

Hear ye, hear ye, hear ye!

Guys and gals, lend me your ears…

So, what about the BIR RR 15 of 2010?

Well, this is the new regulation by the BIR providing for additional requirements in financial statements attached to returns such as the amount of input value-added tax (VAT) claimed, including details on purchases and payments; landed cost of imports and amount of customs duties and tariffs paid; as well as tax cases under preliminary investigation, litigation or prosecution and the amounts involved.

Anyhow, I heard the BUREAU of Internal Revenue (BIR) will hold dialogues with corporations and accountancy firms to “clarify” provisions of Revenue Regulations (RR) 15-2010 that require additional information for financial statements that are attached to income tax returns.

Here is the link to the Schedule of Public Hearings/Consultations

Let us wait and see what will happen next.