Being your own boss is good to hear, isn’t it? Having the ability to manage your own business and control your own schedule. That is why having a business here in the Philippines is one main source of income for many Filipinos. But of course, if you own a business you must have a business permit.
They choose to have their own business instead of being an employee. It is indeed a good source of income, but of course, having your own business is not that easy, there are so many things you need to consider before being successful in that field.
In order for your business to start operating, a business permit is a must. So if you’re one of the business owners, you should always make sure that your business permit is updated and if it’s already expired or will expire soon this might help you. We will provide a guide about business permit renewal.
Here’s the Guide on How to Renew Business Permit:
Requirements in Barangay Hall:
• Original and Photocopy of Barangay Permit (Previous year)
•Original and Photocopy of Official Receipt ((Previous year)
•Accomplished Application Form
•Requirements indicated on the Application Form
Requirements in City Hall:
•New Barangay Permit
•Original Mayor’s Permit (Previous year)
•Original Official Receipt (Previous year)
•Stamped financial statements, audited or unaudited
•Certificate of Gross Sales (Previous year)
•Quarterly Vat Return (Previous year)
•Contract of Lease or Certificate of Occupancy to use Premises
•Local Insurance (Paid at City Hall or external companies)
•Community Tax Certificate (CTC) / Cedula (Paid and acquired at City Hall)
•Accomplished Application form
Here’s the Process:
Step 1. Go to the barangay where you register your business. Bring all the documents and submit them to Barangay Hall, because it will serve as proof of payment. Do not forget to bring the original copy and a photocopy as it will be needed.
Step 2. Submit all the documents to the Barangay officer. It will then be checked and wait for it to be verified. Once done with the verification, they will inform you how much you need to pay.
Step 3. Pay the fees and wait for your Barangay Permit
Once you have completed the process and got your new Barangay Permit, proceed to Step 4.
Step 4. Go to the City Hall where you register your business
Step 5. Submit the form and the requirements to your City Hall
Step 6. Once submitted, it will then be checked and evaluated. Once verified, they will assess the related fees you need to pay for that year
Step 7. Once done with the assessment, they will inform you how much you will pay. You will be given an option to pay the entire annual fee or pay it in quarterly installments.
Step 8. Proceed to the City Treasurer’s Office to pay for the fees. After paying, they will provide you the official receipt. Make sure to keep it as it will be important.
Step 9. Wait until your permit will be released, just extend your patience since the process usually takes up to three weeks. But as long as you have the proof of payment you’re good to go.
• Renew your permits as early as you can to avoid long queue and for you to have time allowance to prepare all the additional documents that will be asked by the LGU
• The fees that you will pay will depend on your last year’s gross revenue. That’s why you will be required to submit a Certificate of Gross Sales or Quarterly VAT Return
•Local Government will also check your previous audited financial statement to see if which reported revenue is higher because they will assess if you have to pay penalties or fees for under declaration of your gross receipts. So it is very important to report the correct amount.
•If you chose to prefer to pay the permit fees quarterly, make sure that you pay for the three succeeding tranches of fees at the start of the quarter because if not it will result in more penalties for your business.