Marikina signs tax exemption ordinance
Teodoro said the ordinances are crucial in alleviating the concerns of Marikina residents.
Teodoro said the ordinances are crucial in alleviating the concerns of Marikina residents.
Mayor Marcelino Teodoro signed two ordinances Monday offering relief to Marikina residents and providing tax exemption for sari-sari stores and carinderia and granting amnesty on interests of delinquent real property taxpayers.
Teodoro said that he had signed Ordinance 73, Series of 2024 which provide for full business permit and business permit tax Exemption for sari-sari stores and carinderia in Marikina City for the Tax Year 2025 and Ordinance 79, Series of 2024 which grants amnesty on interests of delinquent real property taxpayers in the City of Marikina until 31 December 2025.
The business tax exemption, granted annually by the city government, aims to assist small businesses in their recovery. To qualify, sari-sari stores and carinderias must have a start-up capital of no more than P10,000, a monthly income of no more than P250,000 and not sell cigarettes or liquor.
The real property tax amnesty allows taxpayers to pay outstanding balances without incurring interest charges until the end of 2025.
Teodoro said the ordinances are crucial in alleviating the concerns of Marikina residents.
