The Marikina City local government, together with the Department of Trade and Industry (DTI), held the groundbreaking ceremony for its newest multi-purpose building on Tuesday July 19.
Marikina City Mayor Marcelino "Marcy" Teodoro, Marikina Second District Rep. Stella Quimbo, officials of the Department of Trade and Industry- NCRO (National Capital Region Office) CITE, and Department of Public Works and Highways (DPWH) led the event at Russet St., Barangay Concepcion Dos.
According to Teodoro, the Nacida Incubator Facility will be a huge help for micro, small and medium enterprises (MSMEs), especially now that businesses are just recovering from the adverse economic effects of the Covid-19 pandemic.
Since the pandemic began in 2020, the city government has since been proactive in responding to both social and economic effects of the pandemic. These include the creation of new health facilities, a molecular laboratory, and introduction of programs and ordinances aimed at boosting the city's economy.
To alleviate the financial burdens of local businesses amid the pandemic, Teodoro signed on Monday, July 18, a new ordinance granting a tax amnesty to business owners until Dec. 31, 2022.
As stated in Ordinance No. 64, series of 2022, business owners will no longer have to pay penalties, surcharges, or interests for late payments until the end of the year.
The ordinance serves as an extension of the previous business tax amnesty policy that the local government implemented in 2021.
The amnesty for tax payments was first implemented from Oct. 13 to Dec. 31, 2021, and extended from Feb. 23 to June 30, 2022.
During the 10th city council’s inaugural session on July 6, Teodoro personally requested for the passage of a new tax amnesty ordinance to accommodate those who have yet to make full payments or have only made partial payments.
The mayor noted the relief the amnesty has given and will give to small and medium businesses that are grappling not just with the Covid-19 pandemic but also with inflation and the increase in prices of commodities.
The local government approved tax exemptions and incentives for various sectors amid urgent conditions through the Local Government Code of 1991 or Republic Act (RA) No. 7160.