Author: Mark Virgil Lofranco

Starting a business is a bold move—but failing to register it with the Bureau of Internal Revenue (BIR) is an even bolder risk, one that could cost you far more than you expect. In the eyes of Philippine law, BIR registration is non-negotiable. Any business or professional that generates income must register with the BIR…

Starting a business in the Philippines comes with legal responsibilities—foremost among them is tax compliance. Whether you’re a sole proprietor, a freelancer, a partnership, or a corporation, one thing is certain:You must register with the Bureau of Internal Revenue (BIR). As a lawyer specializing in business and tax law, I often tell clients that BIR…

When starting a business in the Philippines, one of the most common questions entrepreneurs ask is:“Do I need to register with the SEC?” The answer isn’t always a simple yes or no—it depends on your business structure, goals, and long-term vision. As a corporate lawyer, I often advise clients that understanding the purpose and implications…

Registering a corporation with the Securities and Exchange Commission (SEC) is a crucial legal step for any business seeking legitimacy and long-term success in the Philippines. While the process may appear straightforward, many entrepreneurs unknowingly make mistakes that delay approval, cause legal complications, or even result in the rejection of their application.   As a…

When forming a corporation in the Philippines, registering with the Securities and Exchange Commission (SEC) is not optional—it’s a legal necessity. As a corporate lawyer, I often encounter aspiring entrepreneurs who ask, “Can I operate my corporation without SEC registration?” The straightforward legal answer: no. SEC registration is the cornerstone of legal corporate existence in…

Starting a business is an exciting endeavor—but making it official through proper registration is not just a formality. It is a critical legal step that ensures your enterprise is protected, recognized, and poised for long-term success. In the Philippines, registering your business with the appropriate government agencies—such as the DTI, SEC, BIR, and your local…

Clean Records, Lower Tax Bills—Every Filipino Business Owner’s Dream. If you’re a business owner in the Philippines, you already know how complicated taxes can get. Between VAT, income tax, and BIR compliance, it’s easy to feel overwhelmed. But here’s the secret that many successful entrepreneurs know:👉 Accurate bookkeeping can help you reduce your taxes—legally and…

Good Records Today. Better Financial Control Tomorrow. Managing your money is one of the most important (and most stressful) parts of running a business in the Philippines. Whether you’re a startup, freelancer, or growing SME, budgeting and cash flow management can make or break your success. But here’s the truth: You can’t budget wisely—or manage…

Your Guide to Doing It Right—Because Ignorance Isn’t an Excuse If you’re a business owner in the Philippines, withholding tax isn’t just something you might have to deal with—it’s something the BIR requires. And if you fail to understand or apply it correctly, you could face penalties, interest charges, or even an audit.   But…

Organized Finances = Smarter Moves + Stronger Growth Running a business in the Philippines isn’t just about hustle—it’s about having control over your finances. Whether you’re a freelancer, online seller, startup, or SME owner, one of the most underrated tools for business growth is simple but powerful: proper bookkeeping. Many Filipino entrepreneurs only focus on…