By Khriscielle Yalao
The Valenzuela City government passed on Friday, Dec. 17, an ordinance giving a one-year tax relief and incentive to businesses and corporations that intend to operate on Fatima Avenue in Barangay Marulas next year.
The measure, authored by Councilor Chiqui Carreon, was passed in order to encourage individuals and corporations to set up businesses in the residential zone of Fatima Avenue which is expected to open in 2022.
Businesses will only pay 50% of the original business permit fee of the city.
Local business and annual building inspection taxes will be free for the whole year, except for regulatory fees and charges, according to the city government.
Businesses will not undergo reassessment of real property tax for the whole year.
The city government stressed that businesses and corporations that wish to apply must meet the minimum requirements under the Fire Code of the Philippines, as well as follow the standard health protocols against COVID-19.
The local government has been rehabilitating Fatima Avenue since October 2021 to become a pedestrian-friendly and attractive area for locals and tourists.