THE Cebu City Government has collected more than P1 billion in business taxes since Jan. 5, 2023.

City Treasurer Mare Vae “Ivy” Fernandez-Reyes said the city government collected P1.253 billion from business permit applications and business permit renewals and another P249 million from real property taxes.

Payment of real property taxes (RPT) will be until March.

Reyes said their biggest tax collection was on Jan. 20 at P326.2 million, while the lowest was on Jan. 7 at only P3.9 million.

The amount does not include yet taxes that will be collected on Monday, Jan. 30, and Tuesday, Jan. 31.

The business permit application and renewal, originally scheduled from Jan. 5 to 20, has been extended until Jan. 31 in SM City Cebu and Robinsons Galleria Cebu, to accommodate more clients.

Reyes told SunStar Monday, Jan. 30, 2023, that those who will pay after the deadline will be slapped with a penalty of two percent and a surcharge of 25 percent for every month of delay.

The city has about 40,000 business establishments.

To recall, the Cebu City Council has approved the 2022 Real Property Tax Code which increased the fair market value of properties within the city.

The tax increase that was sought to support the P50 billion 2023 budget only revised the RPT and did not include any revision in business taxes and permits. (PAC / TPT)