ERRANT property owners in the Philippines’ Quezon City can heave a sign of relief as the local government has announced an amnesty on penalties.
Mayor Herbert Bautista signed an ordinance granting amnesty to real property owners from paying fines, interests, surcharges, and other penalties for unpaid real property taxes for 2018 and prior years, according the GMA News.
“Residents burdened with accumulated unpaid business taxes and fees have been given reprieve by City Ordinance 2779-2018 signed by Mayor Bautista,” the city government said in a statement.
“But instead of losing income, the incentive will serve as an alternative measure for the city government to encourage its delinquent taxpayer to become updated with their tax payment records,” it added.
More specifically, the local government suspended a real property fair market value (FMV) hike until after 2019, offering the amnesty for real property tax “delinquencies”, according to Business World.
The amnesty also included an exemption from audit of 2016, 2017 and 2018 books of account for those that pay 2019 business taxes that are at least 30 percent more than their 2018 payment.
The ordinance which was signed on Dec 12, involves cordonation from interest, surcharges, fines and other penalties on unpaid real property taxes on lands, buildings and machinery.
The local government’s decision is tipped to encourage the generation of more funds and tax collections to pay off the city’s projects and obligations.
Property owners can avert paying interests, fines, surcharges and other related penalties from January 2019 to Oct 20 2019.
“During this period, taxpayers may settle their delinquent taxes for taxable year 2018 and prior years,” it said.
The local government said taxpayers can fully pay their property tax for 2019 after settling their unpaid dues from previous years.
“Payment of delinquent real property taxes can be made in full or instalment basis within the due date,” the city government said.
“However, the tax amnesty shall not apply to real properties that have already been auctioned or are currently being settled or paid under a compromise or similar arrangements and to those with cases pending with the Quezon City Board of Assessment Appeal or in any regular courts of law,” it added.