TAX AMNESTY. The Cebu Chamber of Commerce and Industry (CCCI) supports Cebu City government’s call to the business sector to avail of the local tax amnesty program. CCCI president Felix Taguiam on Wednesday (Nov. 24, 2020) strongly urged the businessmen to avail the opportunity to pay the tax, with waiver on unpaid interest, penalties and surcharges. (Photo courtesy of Jun Nagac)
CEBU CITY – The Cebu Chamber of Commerce and Industry (CCCI) has supported the city government’s call to the business sector to avail of its tax amnesty program.
“The CCCI strongly urges its members and non-members alike to grab this rarely given opportunity before its deadline,” CCCI president Felix Taguiam said in a statement Wednesday.
Taguiam said amid the “economic struggles faced by businesses, this is an important piece of legislation that will bring relief to business owners facing tax challenges”.
CCCI’s call came a day after Mayor Edgardo Labella called on companies here to take advantage of the tax concessions offered by the city government.
Special Officer of the Mayor for Finance and Treasury Jerone Castillo said the CCCI was instrumental in the creation of the tax amnesty ordinance and crossing parties to push for its passage.
“This is not a proposal of the city. This is an initiative of the CCCI in relation to the ease of doing business,” Castillo said.
The tax amnesty ordinance of 2019 was approved in late 2019, and took effect in September.
The tax amnesty measure grants reprieve and foregoes or waives the collection of unpaid interest, penalties, and surcharges of all outstanding or unpaid local taxes including real property, business and community taxes in 2019 and previous years without penalty by Dec. 15, 2020.
It also imposes a fixed rate of 10 percent on all unpaid due and demandable real property, business, and community taxes, as well as other fees and charges after this date but within one year from the effectivity of the ordinance.
The city government has moved the deadline for payment of real property taxes (RPTs) and business taxes for fiscal year 2020 to Dec. 21, 2020.
Castillo also urged that the CCCI, which is the largest business group in Cebu, may lobby for further extension of the deadline to provide relief for taxpayers.
He said taxpayers may visit the city hall for accurate assessment and computation of their tax obligations.
Online application is also available, he added. (PNA)
