Quezon City Council approves three ordinances for Corporate Tax breaks

Quezon City council has approved three ordinances that aim to give businesses added tax reliefs. The council sees these reliefs as a means to aid businesses recovering from the Covid-19 pandemic.

“As the economy gradually opens, some businesses that are heavily affected by the pandemic are still struggling on their way to recovery. We want to help them in as many ways as we can, and passing this tax measure is just one of them,” Mayor Joy Belmonte said.

The first ordinance extends the deadline of tax payments for the first and second quarters of 2022, from Jan. 20 and March 20, respectively, to July 20. The second ordinance will waive penalties, surcharges, and interests for unpaid business taxes for 2021 and previous years. Lastly, the third ordinance allows for staggered payment of outstanding taxes up to a max of 12 months installment covering 2021 and the years prior.

“The Quezon City government recognizes business owners’ financial struggles to keep their operations going, thus providing employment to QCitizens and residents of other cities and provinces who continue to depend on such businesses for their livelihood,” Majority Leader Franz Pumaren, one of the authors of the measures, said.

Other authors of the ordinances are Councilors Jun Ferrer, Eric Medina, and Donny Matias.

Source: Philstar