5 TIPS BEFORE DTI REGISTRATION PHILIPPINES BUSINESS REGISTRATION 2020. Today we will be discussing 5 things you need to know before registering your business with DTI
1DTI REGISTRATION = BUSINESS NAME REGISTRATION
So the first thing that we need know – is that DTI REGISTRATION IS ONLY A BUSINESS NAME REGISTRATION, it does not allow you to operate your business legally yet in order to operate legally you also have to register with BIR so its not enough your registration with DTI only.
2BUSINESS NAME ≠ BRAND NAME
Second things you need to know – is that business name registration and brand name registration are to very different things, so your brand name and your business name can be two different name you don’t have to be the same, so my business name is everyday ethical and my brand name is candeth clothings so it can be very different. If you want protect your brand name and prevent anybody from using it then you have to registered with the IPO PHILIPPINES OR INTELLECTUAL PROPERTY OFFICE. I will give a link in the description below to the IPO WEBSITE SO WHERE YOU CAN REGISTER YOUR BRAND NAME, but us far as i know you need to be registered as a legal entity so with DTI, BIR to order to register with IPO.
3Operating without DTI AND BIR PERMIT
The third thing you need to know – is that if you’re operating your business without DTI PERMIT and BIR PERMIT then your business is essentially illegal. So while a lot of businesses have gotten away with this, our government has become more strictly this if you don’t want to register yet your business as a illegal entity, and then that is completely at your own risk
4DELAYING BIR REGISTRATION = PENALTIES
The fourth things you need to know – is don’t register your business with DTI unless you are ready to registered also with BIR soon after, so if for example you’re registered your business today and you don’t register with BIR yet and you registered with BIR a year later you will be fine with a year worth of fees and penalties, because in the eyes of the government once you register with DTI you will already operating. And the time in between DTI REGISTRATION AND YOUR BIR REGISTRATION is considered an operating business, so essentially for them you just weren’t paying for taxes during that time which so why they have to fees and the penalties.
5BIR is Renewed Every January. Register with BIR Early in the Year
And the fifth and lasting you need to know for DTI REGENERATION – is actually pretty basic it is that DTI IS RENEWED every 5 years, so that a long time but the MAYOR’S PERMIT AND THE BIR IS RENEWED EVERY YEAR and that’s every year, every beginning of the year so it’s January so if your planning to register your business I will just during it early in the year rather than late in the year. When I tried to registered my business i was doing it around November and I already payed for a lot of fees. And there where just nice lady in the mayor’s office they told me you should just wait until the next year before you registered your business, because you’re gonna have to do it again next year and the fees will be the same I was so devastated I didn’t know that and medyo masakit sa bulsa but wala eh ganun yung nangyari di ko sya alam. So I’m telling all of you so you don’t make the same mistake i did and you do better than I did. If you want to know how to registered your business with DTI it is actually pretty easy you can to do it online and I’ll be creating another video and leave a link up here or the description below
So I hope this video help to answer you’re questions and has clarified something on DTI REGISTRATION and I hope it will help you guys to make a good decision for your business.
Don’t forget to subscribe and hit the notification bell below so that you will be notified when a new video comes out. @samthingtodo