UP ISSI supports law amendments for BMBEs welfare

UP ISSI supports law amendments for BMBEs welfare

Dr. de Vera, Research Division Head, encourages the House Committee on MSME Development to conduct an impact analysis on the BMBE law before implementing amendments.  Photo Credit: House of the Representatives Facebook page

Two University Extension Specialists from the University of the Philippines Institute for Small-Scale Industries (UP ISSI) attended the committee hearing on the development of Barangay Micro Business Enterprises (BMBEs) on February 6, 2024, at the House of Representatives of the Philippines.

Dr. Ian Jester M. de Vera, Head of the Research Division, and Ms. Melanie V. Cabotaje represented UP ISSI in expressing its support to House Bills 5028 & 5781 amending Republic Act 9178, or the BMBEs Act of 2002, particularly on the provision of exempting new BMBEs from taxes and other fees upon registration offering ease for Barangay entrepreneurs as they venture in the business field.

“UP ISSI advocates for the prompt fee-free registration of BMBEs, to facilitate their seamless integration into the formal economy and maximize the benefits under the BMBEs Act,” said Dr. de Vera.

He likewise proposed to the committee its need to conduct an impact assessment of the proposed amendments of the law, citing the impact study undertaken for the Republic Act No. 10644 or the Go Negosyo Act of 2014.

Misamis Oriental First District Representative Hon. Christian Unabia, the House Committee Chair on Micro, Small, and Medium Enterprise Development, presided over the committee meeting and requested partner government agencies present during the hearing to submit their proposals to the amendments for further review.

The BMBEs Act of 2002, which former President Gloria Macapagal-Arroyo signed into law on November 13, 2002, decrees the grant of incentives and benefits to encourage the formation and development of Barangay micro business enterprises.

Share this:

Leave a Reply

Your email address will not be published. Required fields are marked *