FOUR days before the February 29, 2024 deadline extension, Cagayan de Oro has reached its target of 20,000 business permit renewals, the Business Permit Licensing Division (BPLD) reported.
According to the data provided by the BPLD, the city recorded 20,086 business permits renewals and 1,311 new business permit registrations from January 2 to February 25, 2024.
This is slightly bigger than last year's recorded business permit renewals for the same period in the city at 18,523.
The City Government expects a bigger turnout of business owners that will renew their business permits and/or finalize their business registrations on February 29 as those unable to pay after the deadline extension will face penalties.
Meanwhile, Cagayan de Oro has generated P6 billion in local business taxes, City Administrator Atty. Roy Hilario Raagas said, citing that this, along with the national tax allotment from the National Government, funds the development programs of the City Hall.