“We highly encourage micro enterprises to register their businesses and avail of the incentives under the BMBE Law,” DTI Cordillera. The said law provides for incentives to BMBEs (Barangay Micro Business Enterprises) which includes tax exemptions and easier access to. BMBE Law – Download as Word Doc .doc), PDF File .pdf), Text File .txt) or read online.
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Declaration of Policy — It is hereby declared to be the policy of the State to hasten the country’s economic development by encouraging the formation and growth of barangay micro business enterprises which effectively serve as seedbeds of Filipino entrepreneurial talents, and intergranting those in the informal sector with the mainstream economy, through the rationalization of bureaucratic restrictions, the active granting of incentives and benefits to generate much-needed employment and alleviate poverty.
Definition of Terms — As used in this Act, the following terms shall mean:.
Take Advantage of the the Brgy Micro Business Enterprises Act | Founder’s Guide
For the purpose of this Act, “service” shall exclude those rendered by any one, who is duly licensed government after having passed a government licensure examination, in connection with the exercise of one’s profession. Any such applications shall be processed within fifteen 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.
DTI urges micro enterprises to avail of benefits under BMBE law
Provided, That all employees bmeb under this Bmhe shall be entitled to the same benefits given to any regular employee such as social security and healthcare benefits. The concerned financial institutions FIs encouraged to wholesale the funds to accredited private financial institutions including community-based organizations such as credit, cooperatives, non-government organizations NGOs and people’s organizations, which will in turn, directly provide credit support to BMBEs. 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. laa
TESDA and TLRC shall be required to furnish laa appropriate Committees of both Houses of Congress paw 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 laww a newspaper of general circulation.
Separably Clause – If any provision or part hereof, is held invalid llaw unconstitutional, the remainder of the law or the provision not otherwise affected shall remain valid and subsisting.
BMBE Law – Barangay Micro Business Enterprise Registration and Benefits
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.
Definition of Terms — As used in this Act, the following terms shall mean: Speaker of the House of Representatives.