SB 762
Senate·20th Congress·Filed Jul 29, 2025
Business Formalization, Integration and Transition Act of 2025
An Act Establishing a Program to Formalize Micro and Small Enterprises Through Simplified Registration, Transitional Support, and Access to Government Assistance
In plain language
The bill would create a government‑run program that lets informal micro‑ and small businesses register online (or at local Negosyo Centers) for a fee of up to ₱1,000, then gives them a one‑time tax amnesty, a 1 % presumptive tax on sales, half‑price social‑security contributions for the owner and up to five workers, and a temporary exemption from the minimum‑wage law. Formal registration would be required to receive any government financing, training, trade‑fair participation, or procurement contracts.
Business, Trade and IndustryTaxationLabor and EmploymentSocial Welfare
Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.
Author · Senator
Subjects
Micro and Small Enterprises (MSES)Business Formalization, Integration and Transition
Official sources
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SBN-762 · Sources: BetterGov Open Congress, BatasWatch