metromanila.politics.com.ph

Until April 2021: Joy Belmonte OKs extension of biz taxes payment

0 67

Quezon City Mayor Joy Belmonte has signed an ordinance extending the deadline for payment of business taxes, fees and charges from January 20 to April 20, 2021 without penalty, surcharge or interest, in a bid to provide relief to businesses amid the pandemic.

The deadline stated in Ordinance No. SP-2981 coincides with the second quarter business tax deadline.

“We recognize the financial difficulties that most of us are experiencing now, especially our entrepreneurs who were forced to close shop or temporarily suspend their operations. This way, we hope to ease their burden and to help them recover,” said Belmonte.

To ensure taxes are determined accurately, the ordinance states that small, medium, and large businesses will be required submit their audited financial statements.

Meanwhile, micro businesses or those whose total assets have a value of not more than P3,000,000 such as sari-sari stores are required to submit sworn statements of gross sales/ receipts, monthly VAT returns and/or percentage tax receipts, in lieu of audited financial statements.