Thursday, February 9, 2023

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Negros Oriental Biz Chamber Urges Creative Artists To Register With SEC

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Negros Oriental Biz Chamber Urges Creative Artists To Register With SEC

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The head of the Negros Oriental Chamber of Commerce and Industry (NOCCI) on Monday urged creative content artists to formally organize themselves and register their businesses or groups for better mileage and other opportunities.

Edward Du, NOCCI president, said many of these creative artists are working individually or in small groups and sometimes do not have the capacity to promote themselves, their products, and their services.

“They need to organize themselves into a formal organization and register with the Securities and Exchange Commission (SEC) so they will have a proper identity,” Du said.

He said creative content artists sought the help and engagement of the business and government sectors in their promotions during the one-day Ayo Roadshow 2022 in this capital city last Nov. 29.

The event, funded by the Department of Trade and Industry in Region 7 (Central Visayas), aims to provide a venue for this particular sector to jumpstart the growth and development of its original content.

“Many of them are usually the so-called underground economy, working from home or doing outsourcing work and not paying taxes, except for those who have already made a name for themselves in the local, national, and international markets,” he noted.

The business chamber executive said he understands the dilemma of content creators, knowing that they are not daily wage earners but rather, their income depends on the demand for their talents and services.

“This is kind of problematic because why would someone pay regular taxes when there is nothing to be taxed?” he noted.

During the roadshow, Du said many of those in attendance opposed the idea of registering with the SEC, or even obtaining local business permits, and paying taxes, because of the instability of their income.

“We are very much willing to help them, considering that we have plenty of local talent, but we also need to formalize their existence so we can penetrate better markets for them,” he said.

The NOCCI president said one of the possible solutions is local legislation that would perhaps give them some tax exemptions.

Also, they can acquire copyright for their works while not paying taxes as yet while there are still no sales, he added. (PNA)

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