city’s business tax
BY CHRYSEE SAMILLANO
Bacolod Vice Mayor Jude Thaddeus Sayson yesterday said the Sangguniang Panlungsod is amending the business tax section of the Tax Ordinance of Bacolod City as a result of their dialogs with business groups that he also said led them to arrive at a figure they believe to be “win-win” for both parties.
Sayson said that, for the manufacturer, retailer and wholesaler, they proposed a standard rate of 37.5 percent of 1 percent of the gross sales. The previous rate was 55 percent of 1 percent, he said.
The Bacolod Sangguniang Panlungsod passed on first reading Wednesday. an ordinance amending Chapter 3, Article 7, Section 16 A, B, C, D, EO1, EO2 and FO3 of City Ordinance No. 565, Series of 2011 or “An ordinance approving the Revised Local Revenue Code of Bacolod City.”