• Beat April 17 deadline, ‘micro’ taxpayers urged

    0

    The Bureau of Internal Revenue (BIR) is reminding Barangay Micro Business Enterprises (BMBE) taxpayers to proceed to their respective Revenue District Offices (RDOs) to file their 2016 income tax return early before April 17 to avoid penalties.

    Republic Act 9178 or the BMBEs Act of 2002 provides that a BMBE is any business enterprises engaged in the production, processing or manufacturing of products/commodities, including agro-processing, trading and services whose total assets, excluding land, shall not be more than P3 million.

    Registered BMBEs avail of government incentives for exemption from payment of income tax from the operation of enterprise, exemption from the coverage of minimum wage law, special credit window of government financing institutions, as well as technology and marketing assistance.

    To avail of tax incentives, the BMBEs are required to register with their BIR RDO where the principal place of business is located and submit the certificate of authority authenticated by the Office of the City or Municipal Treasurer; sworn statement of the value of assets owned and/or to be used by the BMBE and/or its affiliates reflecting the current values; certified list of branches, sales outlets, places of production, warehouse and storage places, or such other facility owned and/or operated by the BMBE indicating their respective address; certified list of affiliates; and latest audited financial statements or account information form or its equivalent.

    Share.
    loading...
    Loading...

    Please follow our commenting guidelines.

    Comments are closed.