City treasurer backs tax amnesty proposal
CEBU, Philippines — Cebu City Treasurer Jerone Castillo is supporting the passage of an ordinance proposed by Councilor Raymond Garcia granting amnesty to taxpayers.
If the City Council approves the proposal, the ordinance will waive penalties and business owners will only have to pay basic taxes. This will reportedly encourage delinquent tax payers to pay their taxes regularly.
“If you start fresh, it is good for you, good for business, and good for the city as well,” Castillo said.
He pointed out that the penalty for a business that fails to pay taxes would reach to a maximum of 72 percent of the basic tax dues and another 25 percent in interest every year, which is reportedly the reason why taxpayers are having a hard time meeting their tax dues.
Other offices like the Social Security System (SSS) and the Bureau of Internal Revenue (BIR) have already put amnesty programs in place.
“That’s a way of easing up doing business with us… now they are given a fresh start with this amnesty,” Castillo said, pointing out Mayor Edgardo Labella’s policy of the city being friendly to businesses.
“Wait for the amnesty, grab this opportunity and settle your tax dues and start anew,” Castillo encourages taxpayers.
As of October, the city has collected taxes P7.4 billion of the targeted P8.2 billion this year. JMO (FREEMAN)
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