QC offers incentives for supporting LGU - Manila Standard

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Quezon City Mayor Joy Belmonte has signed an ordinance giving incentives to private entities supporting the priority programs of the city government.

Under City Ordinance SP-3213 of 2023, the city shall issue a tax credit certificate to private donors that they can apply to their business tax dues at the discretion of the city treasurer. A tax credit certificate would be issued to businesses donating certain assets or services in following manner: brand new assets or services to be valued at the rate of no more than 90 percent of the prevailing market price; or used assets in good working condition and not more than three years old, to be valued at the rate of no more than 90 percent of its depreciated remaining worth.

The City Treasurer’s Office is currently drafting the implementing rules and regulations of the ordinance for its efficient and effective implementation.

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