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Friday, March 29, 2024

Davao biz tax take up 36% in January

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DAVAO CITY”•Following the city’s 10-percent increase in business taxes, the collection of the City Treasurer’s Office has ballooned to over P1.223 billion for the month of January this year, a 36-percent rise from the same period last year.

CTO head Bellinda Tanjili said that after the city implemented the amended local revenue tax rate, their collection has increased significantly from the P899,401,801 collected in January 2017.

Tanjili said for this year, the CTO targeted to collect P1.5 billion in business taxes alone.

“We are very positive that we can actually surpass our target. Just for the month of January, we already have P1.2-billion collection and we still have the entire year to meet our target,” Tanjili said.

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Aside from the business permits, the city’s regulatory fees and charges have also increased from 10 to 30 percent for the maintenance of the materials that Davao uses.

Tanjili said that despite the increase in business taxes, many Dabawenyos still chose to renew their business permits.

“We also conduct random examination wherein we personally open their books to check if their tax declaration in the city is correct,” she said.

Those who falsified their declarations will be forced to pay the exact amount with 25 percent surcharge with 2 percent per month penalty said Tanjili.

Earlier, the Business Bureau already announced they have recorded a total of 35,849 business permits renewed from January 2 to 20 this year.

Business Bureau chief lawyer Marissa Torentera said that as early as December last year, they already catered to early business permit renewals to accommodate those establishments who would like to process their permits early.

“We still accommodate late renewal, however, there is already a 25 percent surcharge with 2 percent penalty every month,” Torentera said.

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