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Manila Bulletin devider Philippines devider Mayor Marcy signs new tax amnesty for Marikina businesses

Mayor Marcy signs new tax amnesty for Marikina businesses

Published Jul 18, 2022 06:30 pm

To alleviate the financial burdens of local businesses in Marikina City amid the pandemic, Mayor Marcelino "Marcy" Teodoro signed on Monday, July 18, a new ordinance granting a tax amnesty for business owners until December 31, 2022.

Photo from Marikina PIO

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.

Photo from Marikina PIO

During the 10th city council's inaugural session on July 6, Teodoro personally requested for a new tax amnesty ordinance to be passed 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 who 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 to various sectors amid urgent conditions through the Local Government Code of 1991 or Republic Act (RA) No. 7160.

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MARIKINA CITY BUSINESS TAX AMNESTY
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