The application for registration shall not be processed by the Office
of the Treasurer until all documentary requirements as above set
forth have been submitted.
Sec. 4. Verification of Qualifications. The City or Municipal Treasurer
must conduct a verification of the physical existence of the business and the
true amount of its assets. A sworn certification that such a verification has
been conducted shall be executed by the Treasurer and shall form part of the
records of each application for registration.
Sec. 5. Issuance of Certification of Authority After determining the
eligibility of the business entity or enterprise, the Office of the City or Municipal
Treasurer shall register the business entity or enterprise as a BMBE and
issue a Certificate of Authority using BMBE Form 02. The CA shall be effective
for a period of two (2) years, subject, however, to Sec. 8 of this Rule, and
renewable for a period of two (2) years for every renewal. The Treasurer shall
indicate in the CA the date when the registration of the BMBE commences.
The Office of the Treasurer shall issue the CA promptly and free of charge,
unless a fee therefore, not exceeding One Thousand Pesos (P1,000.00), is
imposed by the LGU concerned through a properly enacted ordinance.
Sec. 6. List of Registered BMBEs to be Furnished to the BIR. The
Office of the City or Municipal Treasurer shall furnish the Revenue District
Officer/s of the Bureau of Internal Revenue (BIR) in the locality concerned, on
a quarterly basis, using a form prescribed by the Bureau, a list of all registered
BMBEs of good standing. The List of Registered BMBEs shall be one of the
bases of the BIR in granting income tax exemption to a BMBE.
Sec. 7. Periodic Evaluation The Office of the City or Municipal Treasurer
shall conduct an evaluation and verification of the BMBE's financial status,
including the actual amount and condition of its assets, for monitoring and
reporting purposes within 30 days from the close of the year after a BMBE's
initial registration, and within 30 days from the close of each ensuing year.
The evaluation and verification of the BMBE's financial condition shall include,
but not be limited to, the conduct of ocular inspection of the place of business
including its assets.
The respective officials of the City or Municipal Treasurer conducting the
verification must have written authority from the City or Municipal Treasurer.
The written authority should include, among others, the name of the official/s
who will conduct the verification, the address of the place of business to be
verified, and the duration of the written authority, which should not exceed a
period of one week from the date of its issuance.