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(https://www.taxumo.com) BIR Registration Guide: What is Form 2303 and Why Do You Need It? 

BIR Registration Guide: What is Form 2303 and Why Do You Need It?

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Whether you’re a freelancer or a business owner, obtaining a BIR registration certi cate is a must for you.

Also known as BIR Form 2303 and Certi cate of Registration (COR), this type of document gives you the legal rights to operate your business in the Philippines. It provides you with Tax Identi cation Number (TIN) and the authority to print and issue of cial receipts. It also states the types of taxes you will settle.

If you are Self-employed, Corporation, Partnership, Cooperatives, Associations or Government-owned and Controlled Corporation, then you have to secure a Certi cate of Registration from the BIR.

Many business owners are hesitant to register their ventures because the process can be expensive and time-consuming. But having a legitimate business is bene cial to your company and its growth.

Helps build customer’s trust

Consumers tend to buy products from credible and trustworthy brands. And having a COR can help you gain your customer’s trust.

Say you’re running a coffee shop. When your business is registered, you are required to display the certi cate and other forms in your establishment, such as the Mayor’s Permit, Sanitary Permit, Health Clearance, and Fire and Safety Inspection Certi cate. These documents have the power to make your customers feel safe. They will be more con dent to purchase your goods and recommend your establishment. This gives you the chance to attract more customers and gain more pro t.

Gives you marketing advantage

When your business is legitimate, you’ll be more con dent to market it, especially online. And in this digital age, being visible on the internet can give you a competitive advantage.

You can build your business website and set up marketing campaigns on different social media platforms without worrying about legal issues. This will boost your sales

w orrying about legal issues. This will boost your sales a nd give you the opportunity

and give you the opportunity to recover the costs of your taxes.

Gives you a peace of mind

As an entrepreneur, there are several things in your mind. You think about your marketing strategy, your sales, and maintaining your business.

Securing a BIR registration certi cate will give you one less thing to worry about. Remember, you can make your business invisible in the government’s records by not ling a Form 2303, but it doesn’t make you safe in the eyes of their inspectors.

Also, there are punishments for those who don’t register their businesses. When caught, you will have to pay a ne of P5,000 to P20,000 and serve 6 months to 2 years in prison.

Filing for a BIR Certi cate of Registration can be time-consuming, but a business license is vital to your success. Besides, you have to know your obligations as an entrepreneur. Keep in mind that it’s wise to comply with the laws and regulations because it lets you focus on running and growing your business.

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le-for-taxes- under-train/) Author EJ Arboleda EJ has 17 years of experience in IT,

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EJ

Arboleda

EJ has 17 years of experience in IT, Service Management, Project Management, Development, and Marketing. He is also the CEO of Taxumo and a Trainer/Consultant for Digital Marketing.

(https://www.taxumo.com)
(https://www.taxumo.com)

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(https://www.taxumo.com) me * ail * ebsite U121 Avida Cityflex SOHO Tower, 7th Ave cor Lane T,

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(https://www.taxumo.com) me * ail * ebsite U121 Avida Cityflex SOHO Tower, 7th Ave cor Lane T,

ebsite

(https://www.taxumo.com) me * ail * ebsite U121 Avida Cityflex SOHO Tower, 7th Ave cor Lane T,
(https://www.taxumo.com) me * ail * ebsite U121 Avida Cityflex SOHO Tower, 7th Ave cor Lane T,

U121 Avida Cityflex SOHO Tower, 7th Ave cor Lane T, Bonifacio Global City, Taguig, 1634 Metro Manila

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