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Guide to R.A. 9178
DIOS MAMAHES!
BMBEs ACT OF 2002
R.A 9178
BMBE
LAW
Republic Act No. 9178
What is the Objective of this Law?
BMBEs are essential to the country’s economic development since they effectively serve as seedbeds of Filipino entrepreneurial talent.
Thus, the Act primarily aims to integrate micro enterprises in the informal sector into the mainstream of the economy.
INCENTIVES
&
BENEFITS
INCOME TAX EXEMPTION
Exemption from the Coverage of the Minimum Wage Law
Technology Transfer, Production and Management Training, and Marketing Assistance
Credit Delivery
Upon the approval of this Act, the Land Bank of
the Philippines (LBP), the Development Bank of the Philippines (DBP), the Small Business Guarantee and Finance Corporation (SBGFC), and the People’s Credit and Finance Corporation (PCFC) shall set up a special credit window that will service the financing needs of BMBEs registered under this Act
Provided, That all employees covered under this Act shall be entitled to the same benefits given to any regular employee such as social security and healthcare benefits
for income arising from the operations of the enterprise
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.
1. The business enterprise is engaged in Production, Processing or Manufacturing of products, including Agro-processing, as well as Trading and Services.
(For the purpose of the Act, “services” shall exclude those rendered by anyone, who is duly licensed by the government after having passed a government licensure examination, in connection with the exercise of one’s profession.) (e.g. Accountant, Lawyer, Doctor)
2. The business enterprise has a total assets of 3 million pesos. Including loans and excluding the land.
3. The business is NOT a branch, subsidiary, division or office of a large scale enterprise or it is not a FRANCHISE.
What are the
Requirements?
BMBE Requirements
For New Registration:
1. Duly signed BMBE Application Form and Sworn Assets Declaration Form
2. Registration as a business entity (SEC, CDA, and DTI); and
3. Mayor’s Permit or City/Municipal Business Permit.
For Renewal Registration:
Same requirements as that for the new application; and
Submission of Original Copy of BMBE Certificate of Authority
BMBE Certificate of Authority is valid for 2 years
(The application is renewable every two years.)