Tax Relief

QC Council Approves three Metropolis Enterprise Tax Reduction Laws – Manila Bulletin

Quezon City Council has passed three ordinances providing tax breaks for businesses in the city affected by the COVID-19 pandemic, the local government said on Wednesday, December 29.

The three measures were initiated by Councilor Franz Pumaren, Councilor Jun Ferrer, Councilor Eric Medina and Councilor Donny Matias.

The first measure, City Ordinance SP-3067 S-2021, extends the deadline for paying trade taxes, fees and charges without surcharges and interest from January 20, 2022 (first quarter) and March 20, 2022 (second quarter) to March 20. July 2022.

The aim is to help business owners who have been affected by the lockdowns carried out in the city during the community’s quarantine period.

“As the economy opens up, some companies that have been badly hit by the pandemic are still struggling to recover and we in the city government want to help them as best we can and pass this tax break ordinance” is just one of them ‚ÄúSaid Mayor Joy Belmonte.

The City Ordinance SP-3068 S-2021 waives penalties, interest and surcharges for unpaid business taxes and covers all businesses that have not paid in 2021 and years before.

The local government said the second ordinance will allow taxpayers to update their business taxes and liabilities without incurring penalties, surcharges and interest.

In the meantime, according to the city ordinance SP-3069 S-2021, a staggered settlement of outstanding business taxes (maximum 12-month rates for the years 2021 and earlier) is permitted.

The third measure will also entrust the city treasurer with the task of determining how the outstanding tax balances will be paid according to information provided by the local government.

Belmonte is expected to sign the three ordinances before the end of the year, the city government said.

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