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The taxpayer could also be exempt, as in the case of barangay microbusiness enterprises, or BMBEs.
It is mandated to provide business advisory services and business information services as well as serve as OFW Assistance Desk, venue for SME Roving Academy capability building sessions, and application centers for BMBEs.
'We highly encourage microenterprises to register their businesses and avail of the incentives under the BMBE Law,' Maglaya said.
"We highly encourage micro enterprises to register their businesses and avail of the incentives under the BMBE Law," DTI Cordillera Information Officer Arthur Joel Tibaldo told the Philippine News Agency (PNA) on Friday.
According to studies, a lot of barangay micro-business enterprises (BMBEs) remain to be informal, meaning these enterprises have not been woven into the fabric of the economy due to fear of bureaucratic requirements.
For example, the Barangay MicroBusiness Act (BMBE) of 2002 benefits single proprietorships, cooperatives, partnerships or corporations with assets less than P3 million with tax holidays, exemption from minimum wage, special credit windows, and technical assistance.
Also, take the law into your hands by availing of the benefits under the Barangay Micro Business Enterprise, or BMBE Law.
Like RA 9178 (BMBE Law, 2002), RA 9501 (2008), RA 8289 (1997) and RA 6977 (1991).
9178 or the Barangay Micro Business Enterprise (BMBE) Law of 2002-that seeks to attract small businesses with less than P3 million in assets to come out from the shadows of the informal or underground economy.
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- BMC (disambiguation)
- BMC ADO15
- BMC ADO15
- BMC Bladelogic Client Automation
- BMC Capacity Optimization
- BMC Configuration Automation for Clients
- BMC Event Manager
- BMC Mini Cooper