Tax relief granted on vendors, biz owners affected by Danao market fire
Not less than 100 stalls were hit by the fire that hit Danao City Public Market on Thursday evening, June 2, 2022. Danao City fire officer estimated the damage to property to P52.2 million. | Photo courtesy of Danao City Gov’t
CEBU CITY, Philippines — The Danao City Government has granted tax relief for business owners and vendors who lost their livelihoods when a fire erupted in the city’s public market last June.
The city government announced on Tuesday, February 14, that it has enacted the Tax Relief Ordinance of 2022, specifically for those adversely affected by last year’s fire.
“Various business entities were affected by the fire that gutted the Danao City Public Market on June 2, 2022. As a result, businesses were unable to operate and find difficulties to pay the businesses taxes due to the government. (Hence), there is a need to provide tax relief to the affected establishments and entities,” portions of the two-page ordinance read.
Copies of the ordinance, penned by Councilor Edmund Lao, were also uploaded online. The council unanimously approved it last Jan. 24.
The newly introduced ordinance also included an extension of the deadline for payment of business taxes until June 2023, an exemption from interest, penalties, or other similar charges for payments of business taxes for 2021 and 2022, and considering payments for business taxes of 2021 as advance tax credits for 2024.
For their part, the executive department of the city government welcomed the council’s initiative.
“This ordinance offers a helping hand to distressed businesses and demonstrates the city government’s commitment and continuous support for them to recover,” they said in a statement issued on social media.
In June 2022, over P52 million in infrastructure and properties went up in smoke when a fire that lasted nearly 10 hours erupted in Danao City Public Market.
Fire investigators said flames damaged around 80% of the market.
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