DTI Albay urges online sellers to formalize, register business name
LEGAZPI CITY, June 25 (PIA) –The Department of Trade and Industry (DTI) – Albay urges online sellers to formalize and register their business name not only for the business to have its own identity but also for the sellers and consumers to have safe transactions online.
“We are encouraging our online sellers to register their business name (BN). That’s the first step in having a business. It must have a name,” said DTI-Albay Chief Trade Industry Development Specialist Noel Bunao.
Bunao said online registration of business name is fast, easy and afforadable.
“They can apply and register their business name online at bnrs.dti.gov.ph. They just need to fill-up the required data,” he said.
BN registration is valid for five years from the date of registration. Payment can be made online via GCash, PayMaya, e-wallet and credit/debit card.
Bunao said registration fee ranges from P200 – P2,000 depending on the territorial scope of the business. The fees are: PhP200 for barangay, PhP 500 for city/municipal, PhP1,000 for regional and PhP 2,000 for national. Php30 is added for the documentary stamp.
The certificate of BN registration can be downloaded and printed. A certified true copy can be requested from DTI offices or negosyo centers.
“For online sellers who are not yet sure of their business name, they can choose the appropriate suffix from online system to correspond with their products or the nature of their business.
Any Filipino who is at least 18 years of age can register a business name. Foreign nationals who are authorized to do business in the Philippines under existing statutes may also register.
The Department of Bureau of Internal Revenue (BIR) has earlier issued a directive for online sellers to register their business name on or before July 31, 2020.
However, DTI Secretary Ramon Lopez said that those selling intermittently, on an irregular basis or selling homemade stuff as a hobby during this period of the pandemic, are understood as not yet in business. Thus, these are not required to register. (SAA-PIA5/Albay)