The Land Transportation Franchising and Regulatory Board (LTFRB) has removed the requirement to submit audited financial statements and annual income tax returns for applying or renewing public utility vehicle (PUV) franchises.
LTFRB Chairman Vigor Mendoza II said the policy aims to help small PUV operators who face difficulties in securing these documents.
The board noted that such filings are not essential for the actual operation of PUVs.
However, operators may still need to provide the documents in certain specific cases.
The move is expected to simplify and speed up the PUV franchise application and renewal process.
Source: PhilNews24 | November 7, 2025
