LIST OF BUSINESS LAWS IN THE PHILIPPINES

Introduction
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.
Part of this law however is amended further by T a x R e f o r m F o r
Acceleration and Inclusion (TRAIN) – Republic Act No. 10963,
Any provision on this law that is not covered by the ammendment is still enforceable
and effective.
2. Labor Code of the Philippines (Presidential Decree No. 442) – is the law that
governs employment practices and labor relations in the Philippines.
Entrepreneurs should be wary of this law because it involves employee well being which
is one of the key resources in the business success. Remember employees are money
machines of the business.
3. 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.
Entrpreneurs might produce an original product or diea which is a key to its business
this product must ne protected from being used by others or even by competitors.
4. The Corporation Code of the Philippines (B.P. 68) – is the law that governs the
registration and regulation of corporations in the Philippines.
Successful entrepreneurs might build a small, medium, or large companies in the
future. This law is necessary for establishing corporations.
5. 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.
Business entreneurs might be engaged in entering in a contract with producers,
suppliers or partners. Business naturally enters in an obligation and contracts the
moment it sells its product or services to others.
6. 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).
Business entreneurs who has more than 10 employees are mandated by this law to
ensure the social benefit of private employees.
7. 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.
Workers and employees health is the paramount concern of business owners. To
ensure their productivity they must be healthy. Government Health agencies in
partnership of business owners and private employees are partners in attaining the well
being of all parties
8. 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).
HDMF is a housing program for private employees in the Philippines to provide for
affordable and safe shelters for all Filipino workers.
9. 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.
This law establishes the Bureau of food and drugs that regulates buinesses engaged in
food and drug manufacturing.
10. The Philippine Fisheries Code (R.A. No. 8550) – the law that governs
commercial fishing in the Philippines.
11. 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.
12. 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.
13. Financing Company Act of 1998 (R.A. No. 8556) – the Act that governs the
registration and regulation of financial companies in the Philippines.
14. Truth in Lending Act (R.A. No. 3765) – An Act to Require the Disclosure of
Finance Charges in Connection with Extensions of Credit
15. 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.
16. 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.
17. 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.
18. 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.
19. Insurance Act of the Philippines, as amended – the law that governs the
insurance business and insurance transactions in the Philippines.
20. Philippine Cooperative Code of 2008 (R.A. 9520) – the law governing the
registration, regulation and promotion of cooperatives in the Philippines.
22. 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