Are you thinking of starting your online selling business in the Philippines this 2024? With the new Revenue Regulations No. 16-2023 in effect, it’s important to understand the updated process. 

Here’s a simple guide to help you register your online business and comply with the latest regulations:

  1. Determine Your Business Structure: Decide on the legal structure of your business, such as sole proprietorship, partnership, corporation, or cooperative. Each structure has its requirements and implications for taxation.
  2. Register Your Business Name: Choose a unique and appealing name for your online store. Register your business name with the Department of Trade and Industry (DTI) if you’re a sole proprietorship, or with the Securities and Exchange Commission (SEC) for partnerships, corporations, and cooperatives.
  3. Obtain Barangay Permit: Secure a Barangay Permit from the barangay where your business is located. This certifies that your business complies with local zoning and regulations.
  4. Apply for Mayor’s Permit: Obtain a Mayor’s Permit or Business Permit from the city or municipality where your business is based. This permit is necessary for all businesses to operate legally.
  5. Register with the Bureau of Internal Revenue (BIR):
    Secure a Certificate of Registration (COR) from the BIR.
    Register as a taxpayer and obtain your Tax Identification Number (TIN).
    Comply with the BIR’s regulations on taxation, including filing and paying taxes correctly and on time.
  6. Comply with Other Regulatory Requirements: Depending on your products or services, you may need to comply with other regulatory requirements, such as securing permits from the Food and Drug Administration (FDA) for certain products.
  7. Start Selling Online: Once you’ve completed all the necessary registrations and obtained the required permits, you can start selling your products online. Make sure to comply with all relevant laws and regulations, including consumer protection laws and data privacy regulations.

Registering as an online seller in the Philippines in 2024 is a manageable process with the right guidance. By complying with the latest regulations, you can start your online business on the right foot and enjoy the benefits of selling online.

Need help with business registration? Get in touch with our 3rd party providers by booking a call here.