Tax Relief

QC grants three tax breaks to native companies

Quezon City Council has enacted ordinances to provide triple tax breaks in 2022 to allow businesses to recover from the negative effects of the COVID-19 pandemic.

The city ordinance SP-3067 of 2021 extends the deadline for the payment of trade taxes, fees and charges without surcharges and interest from January 20th, 2022 (first quarter) and March 20th, 2022 (second quarter) to July 20th, 2022.

“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 get this tax break ordinance through” is just one of them “Said Mayor Joy Belmonte.

The measure aims to provide tax breaks for entrepreneurs affected by a number of lockdowns during Community quarantine.

City councils also passed the 2021 City Ordinance SP-3068, which aims to waive penalties, surcharges, and interest on unpaid business taxes for 2021 and earlier years.

It applies to all companies that have not paid trade tax for 2021 or earlier.

This would allow taxpayers to update their business tax and liabilities without incurring penalties, interest or surcharges.

The third measure is the city ordinance SP-3069 S-2021, which enables staggered settlement of outstanding business taxes up to a maximum rate of 12 months for the year 2021 and previous years. These ordinances are expected to be signed by the mayor before the end of the year.

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