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Manila Bulletin devider Business devider The Stock Market devider MSMEs get ₱140-million fee relief as SEC extends capital market discounts

MSMEs get ₱140-million fee relief as SEC extends capital market discounts

Published Jun 19, 2026 03:58 pm
The Securities and Exchange Commission (SEC) extended a program offering discounted filing fees for micro, small, and medium enterprises (MSMEs) until the end of the year, part of a state-backed push to deepen the domestic capital market.
The corporate regulator prolonged the 50 percent discount on securities registration fees through Dec. 31, 2026, according to SEC Memorandum Circular No. 19. The extension aims to incentivize smaller businesses to explore public fundraising channels rather than relying solely on traditional bank loans.
The reduced rate applies to corporate securities registered for public offerings. It specifically covers companies utilizing the regulator’s streamlined registration frameworks, including power generation and distribution utilities, agri-business firms, hospitals, and real estate developers managing rental pool arrangements.
The relief builds on a broader package of fee cuts introduced by the commission to support the sector. Alongside the public offering discount, the SEC continues to offer a 20 percent reduction on filing fees for MSMEs formalizing their initial corporate registration. A separate 25 percent discount for capital hikes through amendments to articles of incorporation expired at the end of 2025.
Since launching the fee-reduction initiative on July 16, 2025, the SEC has granted approximately ₱139.6 million in total discounts to small businesses, data from the commission show.
The SEC uses the asset-size thresholds established under Republic Act No. 9501, or the Magna Carta for Micro, Small and Medium Enterprises, to determine eligibility. Under the law, micro enterprises are defined as businesses with assets up to ₱3 million. Small enterprises include firms with assets up to ₱15 million, while medium enterprises cap out at ₱100 million.
To qualify for the extended discount, corporate applicants must submit a formal Certification of MSME Qualification signed by the company’s president or treasurer.
Qualified entities must also maintain a minimum paid-up capital of ₱25 million, though the regulator waives this specific capital requirement for agricultural businesses utilizing the streamlined registration process. (James A. Loyola)

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