Barangay Micro Business Enterprises Act of 2002, Republic Act No. 9178 (Philippines)
Barangay Micro Business Enterprise (BMBE) refers to any business entity or enterprise engaged in the production, processing or manufacturing of products or commodities, including agro-processing, trading and services. BMBEs must have total assets, including those arising from loans but exclusive of the land on which the particular business entity’s office, plant and equipment are situated, of not more than Three Million Pesos (PhP 3,000,000.00). This threshold may be subjected to upward adjustment by the Micro, Small and Medium Enterprises Development Council.
A Certificate of Authority issued by the Office of the Treasurer is required before a BMBE can avail of the benefits which include the following:
- Exemption from income tax arising from the operations of the enterprise.
- Exemption from the coverage of minimum wage law.
- The establishment of a special credit window by identified entities which will serve the financing needs of BMBEs.