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Activity 1 - Research 'Acts, Regulations & Subsidiary Legislation Websites in The Philippines

A tourism business must comply with various legal requirements and regulations at the national, state/provincial, and local levels. At the national level, key legislation includes acts relating to business structures and taxation. Permits must be obtained from the local government unit where the business will operate. The business must also register with agencies like the Bureau of Internal Revenue to obtain a Taxpayer Identification Number. If employees are hired, they must be registered with social programs like the Social Security System, PhilHealth, and Pag-IBIG Fund. Non-compliance with regulatory requirements can result in serious penalties for the business.

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92 views2 pages

Activity 1 - Research 'Acts, Regulations & Subsidiary Legislation Websites in The Philippines

A tourism business must comply with various legal requirements and regulations at the national, state/provincial, and local levels. At the national level, key legislation includes acts relating to business structures and taxation. Permits must be obtained from the local government unit where the business will operate. The business must also register with agencies like the Bureau of Internal Revenue to obtain a Taxpayer Identification Number. If employees are hired, they must be registered with social programs like the Social Security System, PhilHealth, and Pag-IBIG Fund. Non-compliance with regulatory requirements can result in serious penalties for the business.

Uploaded by

Eya
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Research the legal information required for

business compliance

Activity 1 - Research 'Acts, Regulations & Subsidiary Legislation


websites in the Philippines

Please look up and gather information


relating to all relevant legal requirements
that may affect a tourism business
including:

· https://www.officialgazette.gov.
ph

(Philippines example)
· 'Acts, Regulations & Subsidiary
Legislation websites in your country.

1. What are areas of legal requirements that impact on a


tourism business?

You must consider your legal requirements when starting your business. If

you do not follow legislative requirements and regulations, your business

can face serious penalties. A range of legal requirements may affect your

business.

a) You must keep all registrations for your business structure up to

date. For example, your business name must be renewed when due

and you must lodge annual returns if you operate a company.

b) The Corporations Act 2001 details requirements relating to

companies and financial products and services. Learn more about

company legal requirements.

c) Taxation requirements of businesses.

d) If you go into a partnership, your solicitor should draw up a written

contract before you begin trading or make any financial

commitments.
2. What are examples of legislation that must be complied with?

Register the business with the corresponding department or agency

Sole proprietorships must be registered with the Department of Trade and Industry

(DTI). Partnerships and corporations, on the other hand, must be registered with

the Securities and Exchange Commission (SEC). The name of the business is also

included in the registration.

Obtain a business permit

Head to the local government unit of the place you intend to operate your business

in. Secure a business or mayor’s permit. Each municipality has its own specific

requirements and procedures for the registration of businesses, so be sure to

check the individual websites of these areas for more information.

Register with the Bureau of Internal Revenue (BIR)

After obtaining the necessary documents and permits, register the business with

the Bureau of Internal Revenue (BIR). Business owners need to get a Taxpayer

Identification Number (TIN) from the Revenue District Office (RDO) within the

registered location of the business.

Registering with the SSS, PhilHealth, and Pag-IBIG Fund

If you hire employees, register them with the necessary government programs.

The Social Security System (SSS) is a social insurance program that collects the

monthly contribution of employees, along with the share of their employer. The

SSS gives employees health and retirement benefits from their monthly

contributions, along with a variety of small loans. An SSS membership is

mandatory for all employees who are 60 years old and below.

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