Seeking Advice For Small / Micro Business

Hi po mga ka reddit, I’ve signed up a business and am likely to make an application for BMBE. More info about the business I am starting, it’s a retail and I’ll haven’t any employees, just my own. I got my very own place that I use as my main office too.

Now the part where I am confused is the taxes. I’ve read that people gotta pay regular monthly tax (usually called percentage tax and usually 3%, only changes on special situations), and in addition we pay quarterly tax, the annual tax then. Now easily make an application for BMBE, will I pay just the 3% tax plus the annual? Also my sister just graduated and lately got her CPE permit. I asked her and she told me BMBE is just a little complicated to apply for since I will have to declare my assets.

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This really confuses me on how hard it’ll be and on how I can declare the property that I am using for business. I also went to BIR and asks some questions they only provided me hand-outs which doesnt really answer the confusing parts so when I tried to search some of them are a little contradicting. I am hoping someone could give me tricks for starters especially those who started small / micro before. Many thanks so much!

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