You may register your business in DTI as Barangay Micro Business Enterprise or BMBE to avail of the tax incentives and other benefits.

Yes as BMBE registered company, business will no longer be subjected to income tax but you cannot avoid paying business taxes such as percentage taxes or value added taxes.

YES because the basis of criteria for qualification is the total assets except land not more than P3,ooo,ooo,oo.

Same with big businesses, it can be filed thru EFPS or E- BIR or manual filing thru over the counter payment in the accredited banks. Important to note if the business has applied EFPS filing.

There is a step by step procedures to register any business to DTI if it is sole proprietorship, to SEC if One Person Corporation or the the traditional one and after securing approval from DTI and SEC, you may apply the registration to other government agencies such as BIR, SSS, HDMF, Philhealth and Cityhall.

Same with the ordinary corporation, secure approval first of the company name called name verification slip online then prepare the Articles of Incorporation and by laws.

You may do so by following the Bookkeeping Regulations issued by BIR.

Yes; especially if you do not have enough knowledge how to properly record all the transactions of the business and how many Journal Book does business needs and what type of bookkeeping method was registered in the BIR.

A lot of time and less stress from your part because bookkeeping should consider tax accounting which is very important to reduce if cannot be avoided tax exposures.

Accounting records such as source documents to be recorded in the books of accounts as the basis of financial statements and tax returns to be filed to the BIR and SEC.

Yes, tax compliance is necessary based on your Certificate of Registration or COR where tax type is indicated in the BIR Form 2303 unless you opted to cancel your business registration thru surrendering the unused invoices and official receipts together with the original COR and Notice to the Public (Ask for a receipt) only upon receipt and filing of cancellation of COR thru the use of BIR Form 1905, will the business stop tax compliance.

There will be imposition of penalty minimum of P25,000 by BIR due to violation of BIR Bookkeeping regulation and there is a high possibility of tax evasion case will be imposed by BIR.