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Marikina shoe producers get business tax exemption
02
Aug '11
The city government of Marikina, known as the Shoe Capital of the Philippines, has announced exemption and relief of business tax to the city's local producers of leather goods including footwear, in its bid to further boost the city's shoe industry.

The government has passed an Ordinance on 'Business Tax Exemption and Relief to Local Footwear Manufacturer and Other Leather Goods of Marikina' granting tax relief to new footwear and leather products businesses.

City Mayor Del de Guzman said the manufacturers will be exempted from paying business tax in the first year of their operation from the date of their application for license. They will get 75 percent, 50 percent and 25 percent discount in business tax in their second, third and fourth years of operation, respectively.

For businesses that are already in operation, the Ordinance offers a relief by way of 30 percent discount for five years on business tax. But, the business owners will still have to pay several regulatory fees related to the conduct of business. The list of such taxes includes fees towards fire inspection, garbage, health certificate, sanitary permit, building inspection, etc.

Mr. Guzman termed the passage of the Ordinance as an important step to support the shoe manufacturing industry that has put the city in forefront. He was hopeful that the Ordinance would ease the financial constraints being faced by shoe manufacturers and they will be able to deliver better products.

In recent times, the performance of the shoe industry has been affected due to global financial crisis, globalization and the accompanying competition. But, the mayor said the quality of Marikina footwear remained better in material, workmanship and style even in such times.

Fibre2fashion News Desk - India

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