CAGAYAN DE ORO CITY (PIA)--The implementation of a tax relief program boosted the business tax collection of the city government here. This was reported by City Mayor Rolando Uy during his State of the City Address, June 15. Uy said the measure resulted in the collection of P576 million from tax delinquencies and advanced payments. Intended to cushion the economic effects of the COVID-19 pandemic on businesses, the tax amnesty offers condonation of fines for delinquent business taxpayers and discounts for those who pay their taxes in advance. This encourages businesses to pay their taxes and renew their permits. As of the end of April this year, 27,309 businesses had registered, an increase of 23% from the 22,032 businesses registered in the same month of 2022. For March 2023 alone, a total of P1.58 billion was collected from the 3,870 new businesses in the city. This brings the city's total collections to P3.31 billion from July 2022 to March 2023. Uy said the tax relief resulted in the city's improved collection efficiency, which is now at 72.13%. "Tungod niini, gibana-bana nga moabot og P5.41 billion ang makolekta nga local revenue sa pangagamhanan sa syudad karong tuiga, banda sa P7.5 billion nga gi-authorize sa City Council," he further said. (Because of this, it is estimated that the local revenue collected by the city government will reach P5.41 billion this year, compared to the P7.5 billion authorized by the City Council) With the improved collection performance, the city mayor asked the City Treasurer's Office and the Business Permits and Licensing Office to study other initiatives to further boost collection efforts. (APB/PIA-10)
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