Now, you want to make your home-based business legal. You want to register your small business. You want to have official receipts and invoices so that you can expand your business, get more customers, and issue such invoices to them. You also want to pay taxes and have income tax returns, which you can use for loan application and other purposes.
Definition of Terms — As used in this Act, the following terms shall mean: Any such applications shall be processed within Bmbe law 15 working days upon submission of complete documents. Otherwise, the BMBEs shall be deemed registered. The Certificate of Authority shall be effective for a period of two 2 years, renewable for a period of two 2 years for every renewal.
As much as possible, BMBEs shall be subject to minimal bureaucratic requirements and reasonable fees and charges. Who are Eligible to Register — Any person, natural or juridical, or cooperative, or association, having the qualifications as defined in Section 3 a hereof may apply for registration as BMBE.
Transfer of Ownership - The BMBE shall report to the city or municipality of any changer in the status of its ownership structure, and shall surrender the original copy of the BMBE Certificate of Authority for notation of the transfer.
The LGUs are encouraged either to reduce the amount of local taxes, fees and charges imposed or to exempt BMBEs from local taxes, fees and charges. Provided, That all employees covered under this Act shall be entitled to the same benefits given to any regular employee such as social security and healthcare benefits.
For purposes of compliance with presidential Decree no. The BSP shall formulate the rules for the implementation of this provision and shall likewise establish incentive programs to encourage and improve credit delivery to the BMBEs.
The DTI, in coordination with the private sector and non-government organization NGOsshall explore the possibilities of linking or matching-up BMBEs with small, medium and large enterprises and likewise establish incentives therefor.
TESDA and TLRC shall be required to furnish the appropriate Committees of both Houses of Congress a yearly report on the development and accomplishments of their projects and programs in relation to technology transfer, production and management training and marketing assistance extended to BMBEs.
Trade and Investment Promotions — The data gathered from business registration shall be made accessible to and shall be utilized by private sector organizations and non-government organizations for purposes of business matching, trade and investment promotion.
Penalty - Any person who shall willfully violates any provision of this Act or who shall in any manner commit any act to defeat any provisions of this Act shall, upon conviction, be punished by a fine of not less than twenty-five Thousand Pesos P25, In case of non-compliance with the provisions of Section 9 of this Act, the BSP shall impose administrative sanctions and other penalties on the concerned government financial institutions, including a fine of not less than Five Hundred Thousand Pesos P, The rules and regulations issued pursuant to this section shall take effect fifteen 15 days after its publication in a newspaper of general circulation.
Separably Clause - If any provision or part hereof, is held invalid or unconstitutional, the remainder of the law or the provision not otherwise affected shall remain valid and subsisting. Repealing Clause — Existing laws, presidential decrees, executive orders, proclamations or administrative regulations that are inconsistent with the provisions of this Act are hereby amended, modified, superseded or repealed accordingly.
Effectivity — This Act shall take effect fifteen 15 days after its publication in the Office Gazette or in at least two 2 newspaper of general circulation.Sino na po dito naka pag-apply na ng BMBE, meron po ako sana na itatanong?
(1/2). Only registered BMBEs may take advantage of the credit facility and other benefits granted under the law. This means that the enterprise must first have a Certificate of Authority which authorizes it to operate as a BMBE. May 25, · The BMBE Act of recognizes the role of BMBEs as an essential driving force for the country’s economic development as they are considered .
REPUBLIC ACT NO.
AN ACT TO PROMOTE THE ESTABLISHMENT OF BARANGAY MICRO BUSINESS ENTERPRISES (BMBEs), PROVIDING INCENTIVES AND BENEFITS THEREFOR, AND FOR OTHER PURPOSES PRELIMINARY PROVISIONS Section 1. Short Title.— This Act shall be known as the "Barangay Micro RA - BMBE schwenkreis.com Author: updater3.
hereof may apply for registration as BMBE.
Transfer of Ownership. — The BMBE shall report to the city or municipality of any change in the status of its ownership structure, and shall surrender the original copy of the BMBE Certificate of Authority for notation of the transfer.
In encouraging micro enterprises to formalize their businesses under the BMBE Law, certain benefits are granted by law to BMBEs, such as: (1) Exemption from taxes .