Deadline for tax discount extended

ORMOC CITY, Philippines — The City Council has approved on mass motion Ordinance No. 005, extending to March 31, this year, the deadline for the “availment of the 20 percent discount on advance payment of real property taxes” due for the next three quarters of  2014.

The ordinance stemmed from a board resolution of the Ormoc City Chamber of Commerce and Industry, Inc. (OCCCI), requesting the city government, through Mayor Edward Codilla, for the extension of the discount deadline.

Codilla endorsed to the Council the OCCI request, which was based on Yolanda’s “extensive disruption of  livelihoods, roads and normal way of life of people and property including houses, offices, telecommunication facilities, business establishments, infrastructures and power lines, among others.”

Section 53 of  Tax Ordinance No. 93-03 (Real Property Taxation in Ormoc City), as amended, provides for a 20 percent discount on advance payments of real property taxes due before the start of the subject tax year.

The approved ordinance, in turn, made it clear that only those who will pay the full tax dues on the real property for the remaining three quarters—without pending dues, interests, penalties and surcharges—can avail themselves of the discount.

For those have paid in full for tax year 2014 and have enjoyed only the 10 percent prompt payment, shall be entitled to a full tax credit on the differential had  been granted a 20-percent advance payment discount for the remaining three quarters. The tax credit can be applied on the succeeding payment of the real property for the next tax year.

Real property taxpayers who have already paid the first quarterly installment for 2014 and also enjoyed the 10 percent prompt payment discount can also avail themselves of the 20 percent advance payment discount if the next three quarterly installments for tax year 2014 are paid in full. (FREEMAN)