Information on slashed business fees pushed

CEBU, Philippines - Cebu Provincial Board Member Victor Maambong is asking the Department of Trade and Industry to disseminate through an information campaign their program on reduced Business Name Registration fees.

To note, the DTI has reduced its Business Name Registration Fee from P300 to P150 effective January 15 until July 15, 2009. This aims to promote new entrepreneurs, encourage business activities and create employment in support to President Gloria Arroyo’s job generation program.

Maambong said the DTI deems it best in the interest of business proprietors to reduce its BNR rates in view of the global financial crisis that will result in the displacement of Filipino domestic and overseas workers.

“The merit of this program will be diminished where it to proceed unnoticed and unknown by the public more especially by the returning OFWs and terminated local employees,” Maambong said in his proposed resolution.

The board member said the salutary effect of encouraging grassroots enterprises and business endeavors will generate thousands of local employment made urgent by the closure of large business concerns and corporations in all parts of the country.

The 50 percent discount will apply to new and renewal of sole proprietorship businesses only.

Department Administrative Order 09-01, Series of 2009, or the Temporary Reduction of BNR fees, states that “to promote the opening of new enterprises and to encourage business activities and generate employment, the DTI is reducing the fee for all those applying for a new business name or renewing an existing businesses name.”

Accordingly, after the six-month period, registration fees charged from applicants shall automatically go back to P300. — Garry B. Lao/WAB (THE FREEMAN)