Cebu Traders Urged to Avail of Tax Amnesty

CCCI

Members of the Cebu Chamber of Commerce and Industry (CCCI) have been urged by the Cebu City government to avail of the tax amnesty program.

Special Officer of the Mayor for Finance and Treasury Atty. Jerone Castillo briefed the members of the CCCI on the salient points of the Cebu City Tax Amnesty Ordinance of 2019 in a webinar titled CCCI Tax Talks: Tax Amnesty Explained on Monday, November 23 via Zoom.

Castillo was all praises for CCCI for instigating the creation of the Tax Amnesty Ordinance and crossing parties to push for its passage.

“This is not a proposal of the City. This is an initiative of the CCCI in relation to the ease of doing business,” Castillo said.

The Tax Amnesty grants amnesty on, and foregoes or waives the collection of unpaid interest, penalties, and surcharges of all outstanding or unpaid local taxes including real property, business, and community taxes in 2019 and previous years without penalty by Dec. 15, 2020, and with a fixed rate of 10 percent on all unpaid due and demandable real property, business, and community taxes, as well as other fees and charges after this date but within one-year from the effectivity of the ordinance.

The CCCI strongly urges its members and non-members alike to grab this rarely given opportunity before its deadline. Amid the economic struggles faced by businesses, this is an important piece of legislation that will bring relief to business owners facing tax challenges.

The city government has moved the deadline for payment of real property taxes (RPTs) and business taxes for fiscal year 2020 to December 21, 2020.

“Because again of the request of the Chamber… upon our recommendation and this was also sponsored by Councilor Garcia, the deadline Dec. 21, 2020 for the benefit of the business on the instance of the Chamber,” Castillo added.

Castillo also suggested that the Chamber may lobby for further extension of the deadline in so far as to provide relief for taxpayers. He also stated that taxpayers may visit the city hall for accurate assessment and computation. – BusinessNewsAsia.com