THE Cagayan de Oro City government has already collected some P70 million in tax payment as of yesterday morning, 20 percent higher compared to last year’s P56 million collected during the same period.
According to Lino Daral, City Treasurer, the city government projects some P180- P200 million tax revenue this year, higher than the P170 million revenue collected last year.
He said the city expects more tax as the rise in the number of business establishments will ultimately bring up this year’s tax revenue to exceed last year’s P10 million.
Daral emphasized that with the one-stop shop installed at the ground floor of City hall, renewing and processing time of business permit registration is only between 15 and 30 minutes.
“Though there is no exact figure yet, retailers topped the collection last week, followed by service establishments and manufacturing,” the city treasurer said.
Renewal of business permit will certainly shoot up as deadline on midnight of January 20, 2011, nears, Daral said.
Anticipating the sudden upsurge of applicants, the city treasurer has established offsite collection centers in SM City Cagayan de Oro, Lim Ket Kai Mall, Gaisano Mall and Ororama Superstore-Cogon to accept tax payments and business permit applications.
Aside from the establishment of satellite collections centers, the Business One-Stop Shop at City Hall extended its operations up to 7 p.m. during regular working days until January 19, 2011, in order to accommodate more taxpayers and clients.
With the extension of its operations until nighttime, the City Treasurer urged all taxpayers to avoid the rush in filing their business permit applications by transacting earlier at the one-stop shop and offsite collection centers before deadline.
Daral emphasized that there will be no more extension of deadline, and that as mandated by law, 25 percent surcharge of the gross income and 2 percent monthly interest will be charged to late filers.
article by Nicole J. Managbanag of SSC