Ensuring the renewal of your Philippine business permit is essential for the smooth operation of your business, regardless of whether you commenced operations in the previous year or recently registered your company in the last quarter of 2023.
To avoid penalties, fines, and government restrictions, renewing your business permit before the deadline is crucial. Business permit renewals are an annual requirement for all businesses nationwide, regardless of their location in the Philippines.
However, there is also an option to renew semi-annually or quarterly.
Three permits in the Philippines require annual renewal:
- The Barangay or village permit
- The Mayor’s or business permit
- The payment of the annual registration fee with the Bureau of Internal Revenue (BIR)
Here are the deadlines for the annual permit renewals for all types of businesses unless otherwise specified by the government:
Deadlines for Business Permit renewal:
- Barangay permit: Before January 20
- Mayor’s permit/Business permit: Before January 20
- Annual registration fee with the BIR: January 31
Barangay Permit Renewal: Requirements
- Completed application form (2 copies)
- Latest barangay permit (original and photocopy)
- Receipt of payment for the barangay permit (original and photocopy)
- Additional requirements as stated on the application form
Mayor/Business Permit Renewal: Requirements
Renewing your business permit for 2024 requires preparing the necessary documents and payment of fees, followed by a visit to the Business Permit Licensing Office (BPLO) at your local city hall. Failure to comply with the business permit renewal may result in penalties and sanctions for your enterprise, potentially impacting banking and leasing operations. The processing period for Philippine business permit renewal ranges from one to two months, depending on the local government unit (LGU).
The following documents are typically required for business permit renewal:
- Barangay Clearance
- Community Tax Certificate
- Environmental Clearance or Greenhouse Gas Inventory Certificate (for Makati City)
- Sanitary permit
- Company documents:
- Copy of the latest business permit
- Copy of the latest filed Audited Financial Statement/Income Tax Return/Monthly or Quarterly Value Added Tax Returns
- Latest signed and notarized lease contract
- Latest Certificate of Occupancy
- Current information on the number of employees
- For income-producing enterprises, the business permit fees are based on the gross receipts declared in the previous year
- For non-income producing organizations, government fees may range from Php 20,000 to Php 25,000
Payment of Annual Registration Fee with the BIR: Requirements
After obtaining your Barangay Permit and Business Permit, you can proceed with the BIR registration renewal. This step enables you to register your books of accounts, get Tax Identification Numbers for employees, fulfill business tax obligations, and continue printing official receipts.
You will need to download and print the following document:
- BIR Form 0605 (Submit the form in person along with the payment)
Initiating the Renewal Process for Your 2024 Philippine Business Permit
It is important to note that operating without valid permits can lead to the closure of your business and result in serious violations that may result in fines, asset seizure, and even imprisonment. If you are unsure how to initiate the process of business permit renewal or would like assistance getting it done, please feel free to contact us for assistance.
Contact Us Here, fill out the form below, call us at +63 (02) 8540-9623, or email us at email@example.com to get an initial consultation with one of our business permit renewal professionals.