Mayor Benjamin Magalong approved a city council resolution urging qualified businesses in the city to register under the Barangay Micro Business Enterprise (BMBE) and avail of its benefits.
Resolution 464, s. 2020 stated that the Covid-19 pandemic has resulted in the mushrooming of sari-sari stores and talipapa markets along highways, roads, and in open spaces that cater to the immediate needs of barangay residents.
“Many local and overseas Filipino workers who were heavily affected by the pandemic have engaged in small businesses to provide for their families,” it stated.
The measure explained that a BMBE refers to any business entity engaged in the production, processing, or manufacturing of products whose total assets shall not be more than P3 million.
It added that should these businesses qualify for the benefits under the BMBE, they must comply with all the registration requirements in order to enjoy free income tax, reduced local taxes and fees, exemption from the minimum wage law, credit guarantees, and technology transfer among other advantages.
Republic Act 9178 or the BMBE Act of 2002 tasks the treasurer’s office of every city or municipality to register the BMBEs and issue a certificate of authority to enable them to avail of the benefits under the law.
Any application shall be processed within 15 working days upon submission of complete documents. Otherwise, the BMBE shall be deemed registered.
Under the law, local government units shall issue the certificate of authority promptly and free of charge.
To defray the administrative costs of registering and monitoring the BMBEs, LGUs may charge a renewal fee.
The resolution orders the city treasurer to designate a staff that will handle the BMBE registration and facilitate the issuance of certificates of authority. – Gaby Keith
April 27, 2024
