THE Cebu City Government has extended the annual renewal of business permits.

But Diwa Cuevas, who is in charge of the City Treasurer’s Office, said that a penalty will still be imposed on those who will process their applications next week.

Processing of the renewal will still be at the one-stop shop established by CTO in the trade hall of SM City Cebu.

The City started accepting applications for renewal last Jan. 6 and has set the deadline for yesterday.

Cuevas said business owners who failed to renew their permits on schedule will be required to pay the penalty of two percent interest per month and 25 percent surcharge.

“The schedule dates and the penalty is based on the city’s ordinance,” Cuevas said in an interview with Sun.Star Cebu.

The one-stop shop at SM will accommodate clients until Jan. 28.

Cuevas reiterated that business owners should renew their permits since city has simplified the requirements.

Instead of the usual processing that will last for days, Cuevas said permits will be immediately released in ten minutes.

Mayor Michael Rama earlier said he wants to speed up the city’s processing of the issuance of business permits since he wants to attract more investors.

“We want to be a business friendly city,” Rama said.

Right now, Cuevas has yet to consolidate the income CTO has accumulated for the renewal of business permits.

She is positive though that the City can meet its expected income for renewal this

year.

Since City Hall has extended the one-stop shop, Cuevas asked business owners to process their applications immediately.

“While we are still processing their permits in SM, they should avail themselves of it,” Cuevas said.

CTO has established the one-stop shop outside City Hall for business owners to be convenient while processing their documents.