LA TRINIDAD, Benguet - A tax relief of penalties of business taxes will be granted to businesses in the town of Itogon this month.
The Municipal Council enacted an ordinance granting tax relief on the penalties of business taxes from January to December 2010 because Itogon was one of the hardest hit municipalities of the province by the previous typhoons.
The Provincial Board approved the final reading of the ordinance last week on the premise that it is within the authority of the local council to enact based on the provisions of the Local Government Code of 1991.
Based on the Code, the local council through an ordinance could grant tax exemption, tax incentives or tax relief to all business similarly situated, in cases of natural calamities, civil disturbance, general failure of crops, or adverse economic conditions in the locality such as substantial decrease in the prices of agricultural or agri-based products as indicated in Article 282, Part 11, Rule XXX of the Implementing Rules and Regulations of the LGC. (Susan S. Aro)