Regulatory Framework for Business Transactions (RFBT)

Declaration of Policy

. Promote integrity, accountability, and proper management in public service and public property

· Establish effective practices, aimed to ensure efficient delivery and turnaround of government services

. Prevent graft and corruption in government

. Maintain honesty and responsibility among public officials and employees

. Take appropriate measures to promote transparency in government transactions with the public o Adopt simplified requirements and procedures o Reduce red tape and expedite both business and non-business government transactions

Coverage:

. ALL government offices and agencies (including LGUs, GOCCS, and other government instrumentalities) located in the Philippines or Abroad, providing services covering business and non-business transactions

▪ Regulatory requirements that a business entity must comply with to engage, operate, or continue to operate a business