Quezon City Mayor Joy Belmonte has signed an ordinance waiving surcharges, penalties, and interests incurred for late or non-payment of business taxes from second to fourth quarter of 2020 to provide economic relief to business owners amid the pandemic.
Under Ordinance No. SP-2982, business owners who have earlier paid surcharges and interest for their delayed payment of the second and third quarters will also be given tax credit which will be applied as their payment for 2021 taxes and obligations.
The ordinance was introduced by Majority Floor Leader Councilor Franz Pumaren and District 1 Councilor Victor Ferrer Jr.
Belmonte said the city government recognizes the financial difficulties the COVID-19 pandemic brought to all sectors, especially businesses.
“We will continue to look for ways to ease the impact of the pandemic on our local economy and to ensure uninterrupted business continuity,” she said.
Meanwhile, the city council also passed an ordinance extending the deadline for the payment of the business taxes, fees, and charges from Jan. 20, 2021 to April 20, 2021 without penalty, surcharge, or interest.
Councilor Ferrer Jr., along with District 3 Councilor Pumaren, introduced Ordinance No. SP-2981 to grant a three-month extension to business owners within which to settle their tax payments.
“Whereas, in recognition of the business owners’ financial difficulties brought about by the COVID-19 pandemic and the city government’s desire to ease their financial burden, it needs to grant business owners a longer period within which to pay their business taxes,” Ferrer’s measure read.
“We truly understand the sorry state our business operators whose incomes were badly affected by pandemic,” Ferrer told reporters.
The deadline coincides with the second quarter business tax deadline.
“We recognize the financial difficulties that most of us are experiencing now, especially our entrepreneurs who were forced to close shop or temporarily suspend their operations. This way, we hope to ease their burden and to help them recover,” Mayor Joy Belmonte said.
In addition to the requirement for the submission of sworn statements of gross receipts or sale, the ordinance requires small, medium, and large businesses to submit their audited financial statement, which is also being required by the Bureau of Internal Revenue.
“This is to ensure that we determine the actual tax dues correctly and efficiently,” Belmonte said.
