Get PH BMBE 01

The BIR has also ruled that while BMBEs are exempt from income tax, they are required to file income tax returns. Any person, natural or juridical, may apply for registration as a BMBE.

The BIR has also ruled that while BMBEs are exempt from income tax, they are required to file income tax returns. Any person, natural or juridical, may apply for registration as a BMBE.

The Municipal or City Treasurer evaluates the application. The application shall be processed within 15 working days upon submission; otherwise, the BMBE shall be deemed registered. c. A registered BMBE shall be issued a Certificate of Authority as proof of registration, effective for a period of two years.

Other examples of micro businesses are laundry shops, computer shops, printing shops, and canteens. It must still be noted that their total assets shall not exceed Three Million Pesos (P3,000,000.00) to be considered as BMBE to be qualified for the incentives provided by law.

Barangay Micro Business Enterprise (BMBE) A BMBE is defined under the BMBE Law, RA. 9178 Act of 2002 as “any business enterprise engaged in production, processing, or manufacturing of products, including agro-processing, as well as trading and services, with total assets of not more than P3 million.

Other examples of micro businesses are laundry shops, computer shops, printing shops, and canteens. It must still be noted that their total assets shall not exceed Three Million Pesos (P3,000,000.00) to be considered as BMBE to be qualified for the incentives provided by law.

BMBE has incentives and these are the following: Exempted from income tax (tax from the operations) Exempted from the minimum wage law (they will still receive benefits from SSS and PhilHealth) Will have access to a window for special credit (created for BMBE's financing)

Applications for BMBE Certificate of Authority shall be filed with the Negosyo Centers established in each province, city or municipality, or in the DTI offices where Negosyo Centers have not been set up.