IncorporationLegal Blog3 Things you should know about the renewal of business permit

November 6, 20150
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Every year all businesses registered in the Philippines are required to pay business taxes and renew their business permit to the local government where they hold office or reside. The renewal of business permits may be processed only until the January 20, every year (Section 167, Local Government Code or LGC). Beyond that period penalties will be assessed and collected against the business owners.

 

Procedures

Processing of business permit is relatively easy and fast provided the business owner ensure that all required documents are complete and ready for filing. In most jurisdictions, the city or municipal government offers a one-stop shop system of processing business permit renewal, this is for the purpose of orchestrating a smooth and efficient delivery of their service. The reason behind such scheme is the great number of business owners renewing their permits every year. One could only imagine the long lines and the huge volume of people flocking the offices of the local government just to make it to the deadline.

Taxes

These include business tax, mayor’s permit fee, sanitary inspection fee, garbage fee, building inspection fee, electrical inspection fee, mechanical inspection fee, plumbing inspection fee, fire inspection fee, personnel fee, business plate registration fee and other charges imposed by the different Local Governments.

Requirements

  • New Barangay Permit
  • Previous year’s Mayor’s Permit / Business Permit, original
  • Previous year’s official receipt / proof of payment, original
  • Previous year’s Income Statement, audited or unaudited
  • Contract of Lease (2014, or covering stay during 2014)
  • Local Insurance (Paid at City Hall or external companies)
  • Community Tax Certificate (CTC) / Cedula (Paid and acquired at City Hall)

Triple i Consulting offers business registration services tailored for your needs and convenience. Send us an email or give us a call should you need more information.

Victor Viana
Client Services Department Manager

Unit 616 Tower One Stock Exchange
Makati City, Philippines 1226
T: +63 917 546 39 69
E: vviana@tripleiconsulting.com

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