SEC launches new digital platforms in push for sustainability, improved tax administration

MANILA, Philippines — The Securities and Exchange Commission (SEC) is launching five new digital services that will make company registration more efficient and promote data sharing for enhanced tax administration.

The commission on July 17 unveiled the third wave of its digital initiatives, which includes the SEC Zuper Easy Registration Online (ZERO), Electronic Submission Authentication Portal (eSAP), SEC Foreign Investments Registration Station (FIRST) Green Lane Unit, Electronic Application For Modification Of Entity Name And Data (eAMEND), and Swift Corporate and Other Records Exchange (SCORE) Protocol.

The rollout of the new digital services forms part of the commission’s observance of SEC Sustainability Week 2024, in line with its thrust to pursue sustainability by going digital.

“We are harnessing digital technologies not only to improve the ease of doing business,” SEC chairperson Emilio Aquino said in his opening remarks during the launch of the new services at The SEC Headquarters in Makati.

“Ultimately, the SEC is harnessing digital technologies to champion sustainability and help accelerate the attainment of the Sustainable Development Goals,” he added.

The new digital platforms build on the commission’s zero-contact policy and paperless transactions, while adhering to Finance Secretary Ralph Recto’s marching orders to the SEC to collaborate with the Bureau of Internal Revenue (BIR) to improve tax collection efficiency.

SEC ZERO is a service under the Electronic Simplified Processing of Application for Registration of Company (eSPARC), which allows applicants to digitally authenticate system-generated forms through the eSAP platform.

eSAP is integrated with SEC ZERO for the digital authentication of documents, removing the need to affix wet signatures and submit hard copies of registration requirements. It uses one-time passwords to proceed with the electronic authentication of the documents.

Digitally authenticated forms have the same validity as the original certificate, thereby eliminating the need for physical signing and notarization of the registration documents.

With digital authentication, SEC ZERO and eSAP enable applicants to register