Anticipating an increase in fair market values of land and basic construction cost for buildings in Quezon City, various trade organizations have asked the local government unit to extend tax incentives to micro, small and medium players.
Rafael Canare, executive director of the Association of the Filipino Franchisers Inc., appealed to Quezon City Mayor Herbert Bautista to look in their predicament amid a draft legislation from the 38-member city council revising property values.
He said AFFI supports that fair market value adjustment since “it has been a long time since the last increase.”
But small businesses will bear the brunt of the expected increase in leasing fees to be imposed by malls and commercial buildings that will be affected by the tax adjustment, he said.
At least 80 percent of the 200 members of AFFI operate their franchises in Quezon City, mostly as tenants in malls.
District 3 Councilor Allan Reyes, chairman of the city council’s ways and means committee, said senior citizens and persons with disabilities would benefit from the additional revenues.
He said the additional revenues would translate into more socio-development projects, including the establishment of a new hospital in Barangay Batasan in District 2.