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how to transfer ownership of a single proprietorship

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nalyn26


Arresto Menor
hello,,papano po ba maitatransfer ung isang business kpg sole proprietorship,anu yung mga kailangan po,voluntary po xa gagawen..thanks Surprised Surprised advice naman po please..

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attyLLL


moderator
you can go to DTI and try if they will allow it, but they rarely do. It's better to just sell the rights to and the properties of the business and just have the new owner file his own dti registration. note that the closed business will need to undergo closure procedures with office of the mayor and bir


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nalyn26


Arresto Menor
i already went to the BIR to get some information regarding this,,but they told me to close down the business first because TIN no. is not transferable by law. but upon reading your reply,,is there really a case that dti allowed this kind of matter..any suggestion will help,,thank you

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attyLLL


moderator
yeah, sorry, but they don't actually have a written rule that it's not possible. in truth, i've never heard of them allowing it. but for Bir, that is absolutely correct that the tin is not transferable.


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