QC gov’t announces grant of 10% business situs tax

The Quezon City government on Friday announced anew the grant of a 10 percent situs tax for one year for medium to large businesses that have stayed in the city for 15 years or more.

“Loyalty pays in Quezon City,” the local government said. “This is our way of recognizing your long-term partnership in building a stronger economy — rewarding your trust with real savings,” it added.

For real-property sales, the situs is where the property is located.

Sales of real estate by any taxpayer are subject to income tax. “Where you pay business taxes depends on where you work against where you make,” the city government said.