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Frequently Asked Questions

Discover answers to common questions and stay ahead with regulatory updates that impact your business.

  • Tokyo Consulting Firm (TCF) is established on July 1998 by Mr. Kuno Yasunari. The firm offers clients a "one-step service" and aids companies to expand their reach and success across borders. Through experience and expertise, TCF offers services with the highest level of quality at reasonable prices.

  • Legal and Compliance Services, Accounting Services, Human Resource Services, Visionary Consulting (HRVC) and Mergers & Acquisitions.

  • After the issuance of the Barangay Business Clearance, one can begin applying for the renewal of the Business Permit from the Mayor's Office. Unless exempt, registered businesses in the Philippines must renew their respective business permits each year within their local Municipality or City hall.

  • A Non-VAT registered person shall issue a duly registered NON-VAT invoice for every sale, barter, exchange or lease of good or properties, and for every sale, barter, exchange of services valued at Five hundred Pesos (Php 500.00) or more. However, if a buyer request for an invoice, the seller must issue the same regardless of the amount of transaction.

  • A "joint venture" refers to a business arrangement whereby an entity or group of entities contribute capital, services, assets, or a combination of any or all of the foregoing, to undertake an investment activity or a specific project, where each entity shall have the right to direct and govern the policies in connection therewith, with the intention to share both profits and risks and losses subject to agreement by the entities.

  • An organization is probably going to acknowledge a M&A when challenges are out of hand. On the other side, an organization is probably going to look to get different organizations when it believes it's in serious areas of strength for a, or requirements to make a more cutthroat and financially savvy organization. A company may sometimes accept an M&A even if they are not experiencing financial difficulties due to the lure of a competing offer. In like manner, an organization whose funds are questionable may in any case look for a M&A on the off chance that they feel obtaining the other organization's assets will turn their business around.

  • Risk of taking over unnecessary assets and even contingent liabilities.

  • Failure to renew your barangay and business permits, as well as your BIR registration, will result in penalties. The rates for the penalties are as follows:
    • A 25% surcharge on any unpaid taxes, fees, and charges,
    • A 2% monthly interest on anything left unsettled until the company pays the debts, including the surcharge
    Continuing to operate without valid permits for an extended period is a serious violation. In such cases, the LGU has the authority to confiscate your assets. The LGU also has the power to stop your business activities until you settle any outstanding debts