Albay Gov. Bichara orders changes on Provincial Tax Code
The Albay Sangguniang Panlalawigan has heeded the call of Governor Al Francis Bichara to amend the Provincial Tax Code.
The Sangguniang Panlalawigan ng Albay amended Section 6-A of the Provincial Ordinance No. 99-005 or the Provincial Tax Code which grants new discount rates for advance and prompt payment of real property taxes.
“The new Provincial Tax Code states that if the basic real property tax is paid on time, a tax discount shall be given,” said the province.
“For any advance payment made for an entire year, ahead on or before December 31, a 20% tax discount is given,” it added.
Under the code, for any prompt payment for the first quarter of the current year, 10% discount is given only for the first quarter.
“Subsequent payments for the following quarters will have no discount,” said the province.
“The ordinance also clarified that discounts are only be granted to real property units which has no delinquency,” it added.
The amendment was authored by Board Member Reynaldo Bragais.