Cebu City Extends Deadline for Payment of Business Taxes

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The Cebu City Council has approved the recommendation of the City Treasurer to extend the deadline for the payment of business taxes without imposing further penalties to business owners.

City Treasurer Diwa Cuevas revealed that her recommendation for the extension of the deadline for business taxes payment from January 20 to January 27 has been approved by the City Council unanimously.

The extension of the deadline, Cuevas said, will allow business owners to fulfill their obligations without being penalized for late payments. The extension of the deadline is also needed considering the number of holidays in January.

Cebu is celebrating the feast of Sto. Niño on the third week of January and will also host the 51st International Eucharistic Congress on the same month.

The extension of the deadline was based on past trends where several business owners failed to beat the deadline due to the busy month for Cebu City.

The City Treasurer’s Office will be renting out a space at the SM City Trade Hall to accommodate business owners who will be paying their taxes to the government.

Cuevas warned that business owners who will still fail to pay their obligations despite the extended deadline will be charged with huge surcharges as penalty.

Based on records of the City Government’s Management Information and Computer System (MICS), a total of 5,101 new business establishments opened in Cebu City this year 2015.

The number is higher than the 4,200 new establishments that opened in 2014 and brings the total number of establishments doing business in Cebu City to more than 30,000.

Aside from SM Seaside and Robinsons Galleria, MICS records show that the other new business establishments that opened this year include the H&M store in Ayala Center Cebu, the biggest store so far of the Swedish retail brand in the Philippines. – CebuHeadlines.com

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