Aside from that, business owners who have already paid surcharges and interest for their delayed payment during the second and third quarter of 2020 will also be given tax credit, according to Under Ordinance No. SP-2982. It will be then applied as their payment for 2021 tax obligations.
“We will continue to look for ways to ease the impact of the pandemic on our local economy and to ensure uninterrupted business continuity,” she said. Apart from the submission of sworn statements of gross receipts or sale, the ordinance also requires small, medium, and large businesses to submit their audited financial statement required by the Bureau of Internal Revenue “to ensure that [the city] determines the actual tax dues correctly and efficiently.”
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