Makati City grants tax relief
‘This comprehensive measure demonstrates our resolve to deliver swift, tangible relief that will help our community rebuild and recover.’
‘This comprehensive measure demonstrates our resolve to deliver swift, tangible relief that will help our community rebuild and recover.’
Makati City Mayor Nancy Binay has signed a new city ordinance that provides immediate tax relief to residents and businesses affected by severe flooding in late July.
The emergency legislation, City Ordinance No. 2025-A-001, was enacted by the city council on 11 August.
It waives penalties, surcharges, and interest on business taxes that were due on 21 July and extends a 5 percent discount on real property taxes for the third quarter.
“We recognize the tremendous hardships our constituents have endured,” Binay said in a statement.
“This comprehensive measure demonstrates our resolve to deliver swift, tangible relief that will help our community rebuild and recover,” she added.
The relief measures are designed to help the community recover from floods that displaced families and disrupted local commerce from 21 to 25 July.
Taxpayers can take advantage of the benefits by settling their obligations from 26 to 29 August and 1 September. The city said the relief benefits will automatically apply to qualified taxpayers, with no formal application required.
The ordinance also ensures fairness for those who have already fulfilled their tax responsibilities.
Taxpayers who previously paid penalties or surcharges on business taxes due on 21 July may apply those amounts as credits against future local tax liabilities. The same provision applies to those who paid their third-quarter real property taxes but missed the 5 percent discount.
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