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BIR revised guidelines and procedures in registering new businesses
People today are more geared towards being entrepreneurs. With the availability and accessibility of different online platforms for business opportunities, people can have their own business without having to own or lease a physical storefront. However, many are unaware of the regulatory requirements of starting a business. For those who are aware, they are sometimes too impatient to register their business first before starting their operations, because of the impression that the registration process takes a long time and is very complicated. Hence, many businesses, especially home-based businesses, are not registered with the Bureau of Internal Revenue (BIR).