List of Business Laws in The Philippines PDF

List of Business Laws in the Philippines
In every country there are business and commerce laws that every business owner
and entrepreneur should be aware of. In the Philippines, there are also laws and
regulations that govern businesses from registration, operation, up to termination. It is
important that business owners and entrepreneurs know what business laws are
applicable to their type of business and activities. These laws and rules should be
followed to avoid punishments, charges and penalties from the government or
authorities that are implementing and enforcing them. Some of these laws are not only
created to obligate business owners to do their duties but they are also made to obligate
the government to protect these business owners. To make sure you are doing
business legally and to know the decrees that give your business protection and
privileges, the following is a list business laws in the Philippines that entrepreneurs
should be aware of.
1. Tax Reform Act of 1997 (Republic Act No. 8424) –which amended
the National Internal Revenue Code (NIRC) is the law that governs the
national taxation in the Philippines and gives the Bureau of Internal
Revenue (BIR) the power and duty to assess and collect national
internal revenue taxes in the country.
2. The Local Government Code of the Philippines (Republic Act No.
7160) – is the law governing local taxation in the Philippines, including
the taxation on real properties.
3. Labor Code of the Philippines (Presidential Decree No. 442) – is the
law that governs employment practices and labor relations in the
Philippines. (DOLE)
4. Intellectual Property Code of the Philippines (R.A. 8293) – is the law
that governs the registration of patents, trademarks and copyright, and
the enforcement of intellectual property rights in the Philippines. (SEC)
5. The Corporation Code of the Philippines (B.P. 68) – is the law that
governs the registration and regulation of corporations in the
Philippines. (SEC)
6. Civil Law of the Philippines (R.A. No. 386) – the civil code of the
Philippines includes the laws on obligations and contracts. It also
governs special contracts such as contract of agency and partnership.
7. Social Security Act of 1997 (R.A. No. 8282) – the law that mandates
employers to register their business and their employees with the Social
Security System (SSS).
8. National Health Insurance Act of 1995 (R.A. No. 7875) – the act that
mandates employers to register their business and their employees with
the Philippine Health Insurance Corporation or PhilHealth.
9. Home Development Mutual Fund Law of 2009 (R.A. No. 9679) – the
act that mandates employers to register their business and their
employees with the Pag-Ibig Fund (HDMF).
10. Food and Drug Administration (FDA) Act of 2009 (R.A. No.
9711) – the law that governs the inspection, registration, licensing and
monitoring of establishments and health products.
11. The Philippine Fisheries Code (R.A. No. 8550) – the law that
governs commercial fishing in the Philippines.
12. The Animal Welfare Act of 1998 (R.A. No. 8485) – the act that
governs the supervision and regulation of the establishment and
operation of all facilities utilized for breeding, maintaining, keeping,
treating, or training of all animals in the Philippines.
13. Securities Regulation Code of the Philippines (R.A. No.
8799) – the law that governs the registration and regulation of
securities, pre-need plans, and securities market professionals – and
the protection of shareholder interests in the Philippines,
14. Financing Company Act of 1998 (R.A. No. 8556) – the Act that
governs the registration and regulation of financial companies in the
Philippines.
15. Truth in Lending Act (R.A. No. 3765) – An Act to Require the
Disclosure of Finance Charges in Connection with Extensions of Credit
16. Consumer Act of the Philippines (Republic Act No. 7394) – The
law that protects the interest of the consumers in the Philippines,
promote their general welfare, and establish standards of conduct for
business and industry.
17. Electronic Commerce Act of 2000 (R.A. 8792) – an act
providing for the recognition and use of electronic commercial and non-
commercial transactions, penalties for the unlawful use thereof, and for
other purposes.
18. The Magna Carta for Micro, Small and Medium Enterprises
(MSMEs), as amended (RA 9501) – an Act to promote entrepreneurship
in the Philippines by strengthening development and assistance
programs to Micro, Small and Medium Scale Enterprises in the country.
19. Barangay Micro Business Enterprises (BMBEs) Act of
2002 (R.A. No. 9178) – a law that promotes the establishment of
Barangay Micro Business Enterprises (BMBEs) in the Philippines, and
provides incentives and benefits such as income tax exemption and
access to financial, infrastructural, marketing, and knowledge support
from the government.
20. Insurance Act of the Philippines, as amended – the law that
governs the insurance business and insurance transactions in the
Philippines.
21. Foreign Investments Act of 1991 (R.A. No. 7042) – the law that
governs foreign investments in the Philippines.
22. Anti-Violence Against Women and Children Act of 2004 (R.A.
9262) – a law that protects women and children in the workplace.
23. Philippine Cooperative Code of 2008 (R.A. 9520) – the law
governing the registration, regulation and promotion of cooperatives in
the Philippines.
24. Anti-Money Laundering Act of 2001 (RA 9160) – An Act that
aims to protect and preserve the integrity and confidentiality of bank
accounts and to ensure that the Philippines shall not be used as a
money laundering site for the proceeds of any unlawful activity
25. The Anti-Red Tape Act of 2007 (RA 9485) – an act enacted to
improve efficiency in the delivery of government services to the public
by reducing bureaucratic red tape, preventing graft and corruption in all
the offices of the government.
There are still other laws in the Philippines that are applicable to your specific
business or industry which I’ve missed to include above. Furthermore, there may be
subsequent laws that the Philippine government might enact in the future to partly or
fully amend the laws listed above. There will also be new laws that might be
applicable to your business in the future and may affect its operation. Hence, always
be updated with the business related laws in the Philippines. Remember that these
laws are not only created to give you duties and responsibilities, but they are also
created to mandate the government or the state to protect and promote you and
your business.

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