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Author Topic: What is VAT and Non-VAT ? Planning to register sole proprietorship... HELP PLS  (Read 1877 times)


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Hi Enterpreneur Forumers  :)

I am a newbie entrepreneur, mostly importing beauty products and then selling online.

Lately I was thinking that I need some business registration papers para mas legit and pati na rin for other purposes such as visa applications. I have this business and have part time online work. Both walang papers, so wala akong ma present nag-a-apply ng visa. :(  or tuwing may paper requirements.

That’s why I’m planning to register under sole proprietorship. I do have a few questions, hope you can help on these:

1)   May nababasa akong VAT vs Non VAT. What’s the difference? And can I choose under which ako? Baket magkaiba ang tax rates nila?

2)   What if I don’t have a proper business address kasi mostly online lang naman home. What do I write down or anong iprepresent when asked the contract of lease or ownership title?

3)   If I don’t have employees under sole prop, ok lang po ba?

4)   Regarding business name registration, if ganito pong buy and sell, whats the proper ending name? Trading? Enterprises? Commercial? What’s the difference?

Hope I could get some feedbacks regarding these questions.

Thank you so much in advance for any replies. God bless po!