Biz reg fees cut by half

The government is finding ways to lessen cost of doing business given the economic downtrend that hit across countries.

In Davao, entrepreneurs can benefit of the reduced fees for business name registation (BNR) as the Department of Trade and Industry (DTI XI) starts to implement this year.

DTI XI regional director Marizon Loreto said the Department of Trade and Industry (DTI) has ordered the temporary reduction of business name registration (BNR) fee by 50 percent effective January 12 of this year.

The temporary cutback will be implemented for six months, she said.

Department Administrative Order 09-01, series of 2009 has been signed and issued by Trade Secretary Peter B. Favila last January 12 with the aim to promote the opening of new entrepreneurs in order to encourage business activities and generate employment.

DAO 09-01 series of 2009 states that "All those applying for a new business name or renewing an existing business name shall be charged a registration fee of One Hundred Fifty pesos (PhP150.00), an amount 50 percent lower than the original fee of P300.00."

She said however, that the temporary rate reduction is only applicable to sole proprietors.

The DAO reiterated that only sole proprietors are covered since entrepreneurs who are into partnerships and corporations are excluded from the coverage of Act 3883 or the Business Name Laws with the issuance of DAO No. 11, series of 2008.

"We shall not forget that only the BNR fee which has been reduced by 50 percent. Therefore, all the other fees and charges stipulated under Section 5, Article III of DAO No. 6, series of 1999 shall continue to take effect," Loreto said.

Loreto stressed that after six months, the BNR fee shall go back to its original level which is P300 for the period of five years.