Pasig extends hours for business applications

PASIG CITY, Jan. 4 (PIA) -- Starting today, the City Government of Pasig will be extending its business hours in anticipation of the volume of business applications.

According to the city government, starting January 4 to January 20, 2021, business owners may transact for the following business application types:

-        New Registration

-        Business Renewal

-        Business Retirement

-        Amendment

The schedule is from Monday to Friday, from 8:00 a.m. to 9:00 p.m. and Saturday, from 8:00 a.m. to 5:00 p.m.

For updates, please visit the Pasig City Public Information Office Facebook page https://www.facebook.com/ PasigPIO.

To recall, businesses are required to renew their business permits with the local government every year. Companies need to pay the local business tax, real property tax, and other fees and charges.

Because the processing period is short, companies should be aware of the requirements to ensure that the process can be completed within the due date.

All entities doing business are required to pay local business tax (LBT), except for those granted exemption under the Local Government Code (LGC) and special laws.

The tax can be paid annually, on or before Jan. 20, or quarterly, within the first 20 days of January and of the first month of each subsequent quarter.

Failure to pay the LBT, fees, or charges on time will be subject to a surcharge not exceeding 25% of the amount of taxes, fees, or charges not paid on time and an interest at a rate not exceeding 2% per month of the unpaid taxes, fees, or charges, until such amount is fully paid.

However, in no case will the total interest on the unpaid amount or portion thereof exceed 36 months. Since local taxes, fees, and charges accrue on the first day of January of each year, interest on late payments shall be computed from Jan. 1, not from the due date for payment.

Failure to pay the LBT means the non-renewal of the business registration, which can be a ground for closure of the establishment by local authorities (PIA NCR) 

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https://pia.gov.ph/news/articles/1062928
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