CEBU

Cebu City collects P1 billion worth of business tax

CEBU. Business owners only have until Friday, January 25, to renew business permits without incurring penalty. (SunStar photo/Amper Campaña)

AROUND P1 billion worth of business tax has been collected by the Cebu City Treasurer's Office (CTO) as of Thursday, January 24, a day before the last day of the one-stop-shop for renewal of business permit that the City Government established.

With this, Mayor Tomas Osmeña and the CTO reminded all other taxpayers, who haven't paid their tax due yet to settle it until Friday, January 25.

“Reminder lang: Friday (January 25) is the last day to get your business permits without incurring penalty. We are trying to make getting all your requirements as easy as possible so please do not give us any excuses to close your business for failing to pay your taxes,” Osmeña wrote on his Facebook page.

This year, CTO targets to collect P1.9 billion in business taxes.

City Treasurer Arlene Rentuza said that after the last day of the one-stop-shop, they will charge 25 percent penalty and two percent per month on top of the total tax due of the taxpayer.

“Our last day of payment will be on Friday, January 25.They need to have their businesses assessed and give their payment so we will not charge them with penalty and interest,” she said.

Rentuza said they will no longer give extension as they already gave enough time for taxpayers to pay their dues without penalty and interest.

“We will no longer extend because as provided under the Local Government Code, last day of the payment of business tax without penalty and interest is only up to every 20th of January. We just extended the date this year and we asked the permission of the City Council,” she said.

Rentuza said that as of Thursday, January 24, taxpayers started to flock to Robinsons Galleria, where the one- stop-shop is located.

“We expect that more people will come to the one-stop-shop during the last day even if we already reminded them to pay their taxes earlier but we will still accommodate them," Rentuza said.

So far, around 31,000 business establishments have been assessed with an estimated total tax due amounting to P2 billion.

Of the number, only 24,000 have paid their tax due.

Rentuza said they will follow up the remaining 7,000 business establishments and ask them to pay their tax dues.

“The P2 billion assessed value, if all will pay, is higher compared to our target collection this year, which is at P1.9 billion,” she said.


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