The Advantages of Being a Sole Proprietor in the Philippines (Tax Tips Tuesdays Ep. 1)

By September 17, 2019Blog, Business Tips, Tax Hacks

In this inaugural episode of Tax Tips Tuesdays, husband & wife/co-founders of Taxumo.com, Ej and Ginger Arboleda talk about the advantages of being a sole proprietor in the Philippines — in terms of business structure as well as taxes.

When do we need to register as a Sole Proprietor in the Philippines?

Once you have a brick and mortar store, an ecommerce site, good and stocks that you maintain, etc., you will need to register as a sole proprietorship in the Philippines.

How do I register a Sole Proprietorship Business?

It’s easy to set up a Sole Proprietorship in the Philippines (at least as compared to a Corporation or a Partnership). To set up a Sole Proprietoship in the Philippines, it requires going to 3 government agencies: DTI, LGU or Municipal Hall and Baranggay and the Revenue District Office of BIR in the city of your business address. Note that you are not COMPLETELY REGISTERED as a Sole Proprietorship if you do not have documents from these three departments.

If you are from Metro Manila, we here at Taxumo, can help you register as a Sole Proprietor. All you need to do is go to the link below and collate all the documents indicated in STEP 1.

https://www.taxumo.com/business-registration/sole-proprietors

If you have any questions about registering a Sole Proprietorship, feel free to message us using the chat button in this site.

Learn more about Philippine taxes from our blog at: www.taxumo.com/blog

Get more tax tips and hacks by subscribing to our channel now: www.youtube.com/taxumo

Do you have questions about taxes? Just type in your question in the comment box below.

 

Author Gabby

More posts by Gabby

Join the discussion 2 Comments

Leave a Reply