DTI calls business owners to register business name, renew registration

BORONGAN CITY, Jan. 27 (PIA) - - The Department of Trade and Industry (DTI), E. Samar Provincial Field Office urges new business owners to register their business names.

According to Ms. Ligaya C. Catuday, Consumer Protection Division (CPD) chief, getting a business name at DTI is the first step to secure a Mayor’s permit. It is also used to register at the Bureau of Internal Revenue (BIR).

“Registering the business name gives business owners an exclusive ownership to the business name of their choice,” Catuday said.

DTI is also calling existing business owners to renew their registration.

Catuday said for the month of January, 2021 there are 513 new business names registered and 68 renewed business names at the DTI in the province of Eastern Samar.

“I encourage all business establishments whose business name expires to register now to avoid surcharges,” Catuday said.

The validity of business name registration is five years, after five years the owner is obliged to renew their business name.

 “In case they cannot renew their business name, there is a 50 percent surcharge of the total registration fee,” Catuday said.

The Consumer Protection Division emphasized that the business owners can renew their business name three months or 90 days before their business name expires.

Due to COVID-19 pandemic, Catuday encouraged business owners to register online.  For those who cannot register online, they may register at the DTI-Provincial Office, or at the Negosyo Centers near them.

Out of 22 municipalities and one city, there are 13 Negosyo Centers in the province located in Borongan, San-Julian, Can-avid, Dolores, Maslog, Arteche, Maydolong, Hernani, Mac-Arthur, Giporlos. Lawaan. Salcedo, and Guiuan.

Catuday informed that the fee for registering the business name depends on territorial scope.  In the barangay level, the amount is P200 plus documentary stamps.  In the cities and municipalities, it is P500 plus documentary stamps.

For online registration, the permit gets released within 40 minutes.  For office transaction and registration in the Negosyo Centers, it will be released on the same day. (nbq/SDC/PIA-E. Samar)

Source: Philippines Information Agency (pia.gov.ph)

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