Posted on 08:10 PM, October 17, 2010 [ BusinessWorld Online ]
THE SAN JUAN city government is set to implement starting today a tax amnesty program on unpaid interests and penalties on real property taxes incurred from 2008 and prior years.
San Juan City Administrator Arnulfo Dacalos said in a telephone interview that the amnesty will take effect starting today after the implementing rules and regulations for the said program was approved last Friday.
He said the San Juan local government expects to raise between P15 to P20 million in revenues from the amnesty program.
Ordinance number 29 series of 2010 has been enacted to grant tax relief to San Juan real property owners, considering that most of them have not fully recovered from the "devastating effects" of tropical depression Ondoy and typhoon Pepeng last year.
Based on the said ordinance, all owners who voluntarily declare previously unreported real properties for tax purposes and those who failed to pay their taxes from 2008 and prior years will only pay the basic taxes without penalties and interest. "The principal obligation will still be paid. It’s only the penalties which will be waived in order to encourage payment of arrears. So that starting this year, all accounts will be current," San Juan Rep. Joseph Victor G. Ejercito said by phone yesterday.
He added that the tax amnesty will encourage residents not to evade taxes. -- NMG
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