The Makati City government has announced it is extending until Jan. 25 the deadline of assessment and payment of business and realty taxes.
This came after members of the City Council approved Ordinance No. 2019-0040 to extend the Jan. 20 deadline.
Mayor Abigail Binay said the deadline of assessment of business permits without penalty would be on Jan. 25, while the acceptance of payment of business and realty taxes without penalty would be until January 31 at 5 p.m. only.
“We encourage taxpayers to give priority to their tax payments and business permit renewals so they may still avail themselves of discounts and avoid incurring penalties,” Binay said.
Penalties on late payments of business taxes include a 25 percent surcharge and a two percent interest per month of delay until the amount due is fully settled.
On the other hand, a 10-percent discount will be granted for full-year payments of real property tax (RPT) made until Jan. 31, 2019.
In line with the extension, the mayor has authorized frontline offices to render overtime services to accommodate taxpayers until Jan. 31.
The Business Permits and Licensing Office will be open from 8 a.m. to 10 p.m. on Monday to Friday (Jan. 21 to 25; Jan. 28 to 31), and on Saturday and Sunday, Jan. 26 to 27, from 8 a.m. to 8 p.m.
The Business Tax Division will be open on weekdays from 8 a.m. to 9 p.m. on weekdays until Jan. 30, and from 8 a.m. to 8 p.m. on weekends, Jan. 26 and 27. On Jan. 31, payments will be accepted until 5 p.m. only.
The Realty Tax Division will be open to accept payments on weekdays from 8 a.m. to 7 p.m. until Jan. 30, and on weekends from 8 a.m. to 3 p.m. only to allow time for tellers to balance payments. On Jan.y 31, payments will be accepted until 5 p.m. only.
The Miscellaneous Tax Division will also be open to accept payments for miscellaneous fees and taxes, including professional tax payments, on weekdays from 8 a.m. to 10 p.m., and on weekends from 8 a.m. to 10 p.m.
Under the Makati Revenue Code, discounts are given to non-delinquent taxpayers, as follows: 10 percent for full-year RPT payments made until Jan. 20, and five percent discount for prompt quarterly payments (Quarter 1 until Jan. 20; Quarter 2 until April 20; Quarter 3 until July 20; and Quarter 4 until Oct. 20).
Annual RPT payments made after March will incur an eight percent penalty on the first quarter, and two percent on every succeeding month. For late quarterly RPT payments (made after the last day of the quarter, i.e., March 31, June 30, Sept. 30, Dec. 31), an eight percent penalty will be imposed for that quarter, and two percent on every succeeding month.
For miscellaneous fees and taxes, the deadline for professional tax payments is on Jan. 31, while the deadline for payments on Community Tax, both corporate and individual, is on Feb. 28.
The following are the requirements for the renewal of business permits: Notarized Application Form (triplicate copy) with the following, Gross Declaration/Receipts of the Preceding Year, Number of Employees and Capital Investment; Previous Year Mayor’s Business Permit, Billing Assessment and Official Receipt; Audited Financial Statement and/or Income Tax Return for the year 2017.
For Consolidated Financial Statement, attach breakdown of gross sales/receipts and proof of payments from other Cities/Municipalities. For Fiscal Year Financial Statement, attach breakdown of gross sales/receipts from January to December.
