Question & AnswerQ&A (LTO MEMORANDUM CIRCULAR NO. 643-2005)
The Certificate of Stock Reported (CSR) serves as evidence of stock reporting for a specific unit of engine, chassis, or motor vehicle issued to accredited manufacturers, assemblers, and importers. It is required as part of the motor vehicle registration process.
CSRs are issued only to accredited manufacturers, assemblers, and importers in the Philippines, and are issued once per unit of engine, chassis, or motor vehicle.
A prooflist is a document issued for local purchase that enables the transfer of stocks from the manufacturer, assembler, or importer to the accredited dealer. It is given to accredited dealers to facilitate stock transfers.
The issuance of the CSR or prooflist, as applicable, is a mandatory requirement for the registration of a motor vehicle in the Philippines to establish uniformity and proper documentation in stock reporting.
The system covers manufacturers, assemblers, importers, and dealers who are accredited by the Land Transportation Office (LTO) for the purpose of reporting stocks of engines, chassis, and motor vehicles.
It was adopted on August 2, 2005.
The circular was signed by Anneli R. Lontoc, Assistant Secretary.
Stock reporting ensures accountability and traceability of motor vehicles and vehicle parts from the manufacturers, assemblers, and importers to dealers and ultimately to the vehicle registration, which aims to reduce fraud and ensure legal compliance.
No, the issuance of either the CSR or the prooflist, depending on the case, is a required document for the registration of a motor vehicle, thereby making compliance mandatory.