Friday, January 26, 2007 City earns P141M from biz renewal
REGISTRATION and renewal of business permits from January 2 to 22 amounted to P141,826,121, according to the City Finance Department.
Lino Daral, city treasurer, disclosed this as the City Government ended on January 23, the two-week business processing period for old and new business establishments in the city.
Daral said a total of 12,615 business establishments have registered and renewed their permits this month posting a 79 percent achievement out of the 16,000 business establishments, which are expected to secure permits during the registration period.
The city treasurer pointed out that this year's achievement in business registration marked a big difference to last year's turnout where the City Government collected only P132 million from a total of 11,000 business establishments, which secured business permits.
He added that because of the positive turnout of business registration during the past two weeks, there will no longer be an extension of the registration period.
This means that those who will renew their business permits will now pay a 25 percent surcharge and a 2 percent penalty.
Daral said the heavy turnout of business registration this month only proved of the local business community's confidence in the local government administration knowing that the tax they are paying are effectively utilized for the much need social services for the people of Cagayan de Oro. (CIO)
