|
BMBEs Receives Incentives |
|
Written by Loren
|
|
Thursday, 25 September 2008 |
|
Barangay Micro Business Enterprises from Balanga City, Bataan are now enjoying excemption from payment of income tax and also receive financial assistance as one of their incentives. These incentives, as contained in BMBEs ACT 2002 aimed to encourage the formation and growth of BMBEs. BMBE is any business enterprise engaged in production, processing or manufacturing of products, including agro-processing as well as trading and services with total assets of not more that P3 million. Aside from tax exemption registered BMBEs can avail the following: - Exemption from the coverage of the minimum wage law.
- Technology transfer, production and management training; and marketing assistance programs.
Only registered BMBEs may take the advantage of credit facility and other bbenefits granted under the law. Yay P. Lasam provincial director of DTI Bataan said that this would mean more jobs and livelihood and ultimately a better life for Filipinos. [via PIA] |
