Business Permit Renewal

We take pride in providing our clients with reliable services, and we always stay up-to-date with the latest regulations and requirements. With our assistance, you are rest assured that your business will be in compliance with all necessary permits and licenses.

January is a busy period for renewal of various licenses including business permits. Business owners need to comply with the legal requirement of renewing their business permit with the Local Government Unit (LGU) concerned to continue business operation.

A penalty is imposed upon the business owners who fail to renew their permits. If filing (and payment) is not completed on or before January 20, there is a 25% surcharge on the unpaid amount plus 2% interest per month.

Failure to renew business permit, may result in ordering the closure of their business by the LGU.

Business owners also need to to file and pay Annual Registration Fee to BIR on or before January 31 to avoid paying compromise penalties of P1,000, 25% surcharge, and 20% interest per annum.

Requirements

Note that processing of business permit renewal can be tedious and may take more than a few days due to the high number of applicants.

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Frequently Asked Questions

When is the deadline for renewing business permits in the Philippines?

The deadline for renewing business permits in the Philippines varies depending on the local government unit (LGU) where the business operates. Generally, the deadline falls within the first month of the calendar year, usually in January or February. It is important to check with the specific LGU to determine the exact deadline and avoid penalties for late renewal.

What are the requirements for renewing a business permit in the Philippines?

The requirements for renewing a business permit in the Philippines may vary depending on the LGU. However, common requirements typically include:

Accomplished application form for business permit renewal.
Previous business permit and official receipts for the previous year.
Barangay Clearance or Certificate of Business Name Registration.
Tax clearance or Certificate of Tax Payments from the Bureau of Internal Revenue (BIR).
Updated Barangay Business Clearance.
Fire Safety Inspection Certificate, if applicable.
Other documents or clearances as specified by the LGU.

How can I renew my business permit in the Philippines?

To renew your business permit in the Philippines, you generally need to follow these steps:

Prepare all the required documents for renewal.
Submit the application form and supporting documents to the Business Permits and Licensing Office (BPLO) or the designated department of the respective LGU.
Pay the necessary fees and taxes related to the business permit renewal.
Await the assessment and processing of your application.
Once approved, receive your renewed business permit and official receipts.

What happens if I fail to renew my business permit on time in the Philippines?

Failing to renew your business permit on time in the Philippines may result in penalties and consequences. These penalties can vary depending on the LGU but may include late renewal fees, fines, or even closure of the business. It is important to comply with the renewal deadlines set by the LGU to avoid any disruptions to your business operations and potential legal issues.

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