Issue of March 12, 2017
     
NEWS
Abra
Benguet
Ifugao
Kalinga
Mt. Province
 
OPINION
 

66th Courier Anniversary Issue
 
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Micro businesses urged to register at Negosyo Centers
by Marcelo B. Lihgawon / PIA

LAGAWE, Ifugao – The Department of Trade and Industry is inviting entrepreneurs with an asset size of not more than P3 million to register at the nearest Negosyo Center or DTI office to avail of incentives.

Negosyo Center Business counselor Steve  I. Domio said government incentives that registered Barangay Micro Business Enterprises (BMBE) can avail of  are exemption from payment of income tax on income arising from the operation of the enterprise; exemption from the coverage of the minimum wage law; priority to a special credit window setup specifically for the financing requirements of BMBEs; and priority to technology transfer, production and management training, and marketing assistance programs.

To avail of tax incentives, the  BMBE shall register with the Bureau of Internal Revenue. Application must be supported by submitting a copy of DTI-issued BMBE certificate of authority and other documents.  

The tax incentive however do  not exempt BMBEs from paying income and percentage taxes, and are required to issue receipts, maintain a books of accounts, and file an Annual Information Return for the year immediately preceding the renewal of registration with the BIR.

On the exemption from the coverage of the of minimun wage, the BMBE Law states that an agreement from the employer and employee will serve as contract on the agreed salary of the worker.

BMBE does not include entities rendering services in connection with the exercise of one’s profession by a person licensed by the government after having passed a government licensure exam such as lawyers, doctors, among others.

The DTI certificate of authority grants a registered BMBE license to operate and be entitled to all the benefits and privileges accorded thereto. The certificate is effective for two years commencing from the date of issuance and renewable every two years thereafter.

Based on the revised guidelines issued by the DTI under DTI DAO 16-01, s. 2016, any person, natural or juridical such as partnership, corporation, association, and cooperative, having the qualifications shall be eligible to register as BMBE.

There are 134 businesses that have already registered as BMBEs in the province.


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Albergo Hotel and Residences
Baguio Country Club
HEDCOR, Inc.
Informatics
University of Baguio
Venus Parkview Hotel

Baguio Central University
Benguet Electric Cooperative Inc.
Cong. Mark O. Go
Cong. Ronald Cosalan
Department of Education – CAR
Department of Health – CAR
Gov. Crescencio Pacalso
Lepanto Consolidated Mining Company
Narda’s and Sunflower Ridge
National Grid Corporation of the Philippines
Pines City Colleges
Sangguniang Panlungsod
SM City Baguio
University of the Philippines Baguio

ABC360
Assumption Medical and Diagnostic Center
Baguio Center Mall
Baguio Water District
BSBT College, Inc.
Bureau of Internal Revenue
BVS Colleges
C &Triple A Supermart
Councilor Edgar M. Avila
Curamed Pharmacy
Department of Environment and Natural Resources – CAR
Department of Interior and Local Government – CAR
Department of Public Works and Highways – CAR
Fabulo Beauty and Image Salon
Far East Pacific Commercial
Filipino–Japanese Foundation of Northern Luzon, Inc.
GMS Technology
John Hay Management Corporation
King’s College of the Philippines
La Funeraria Paz, Inc.
Mayor Mauricio G. Domogan
Mother Earth Deli Basket
NIIT
Overseas Workers Welfare Administration – CAR
Philex Mining Corporation
Police Regional Office – CAR
STI Baguio

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