Quezon City Waives Penalties, Extends Tax Deadlines

Quezon City Mayor Joy Belmonte has approved two measures waiving the penalties and extending the deadline for the payment of business taxes from January 20 to April 20 next year.

Belmonte said, “We recognize the financial difficulties that most of us are experiencing now, especially entrepreneurs who were forced to close shop or suspend operations. This way, we hope to ease their burden and to help them recover.”

She added, “We will continue to look for ways to ease the impact of the pandemic on local economy and to ensure uninterrupted business continuity.”

Small, medium and large businesses are required to submit audited financial statements in addition to sworn statements of gross receipts or sale.

Micro businesses or those whose total assets have a value of not more than three million must submit sworn statements of gross sales, monthly value-added tax returns or percentage tax receipts in lieu of audited financial statements.

Source: https://www.philstar.com/nation/2020/12/11/2062909/quezon-city-waives-penalties-extends-tax-deadline

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