Home » Articles » Business

How to Apply for Retirement of Business Operations in Cebu...

Here are the vital information and steps in applying for Retirement of Business Operations in Cebu. Retirement here means closing or terminating. If you plan to stop or terminate your business in Cebu, it is very important to secure a Retirement of Business Operations Certification. Getting a Retirement of Business Operations Certification means that you officially close or stop your business and you have no further obligations in paying your dues such as taxes in Cebu City government.

Picture of "Going Out of Business" Banner
 --- You have to secure Retirement of Business Operations Certification when you go out of Business ---


As per Section 12 of the Omnibus City Tax Ordinance:
"..any person who desires to retire from his business, trade, occupation or calling, may do so by surrendering his license or permit  to  the City Treasurer within ten (10) days from the date of the last entry in his books  of  accounts, and by filing the corresponding returns or statement of gross sales or receipts fordetermination of the taxes due. If the tax paid during the year be less than the tax due on said gross sales or receipts of the current year, the difference shall be paid before the business is considered officially retired.”
"..For failure to surrender the license or permit within the period herein prescribed, the business or occupation shall be deemed as being continued, and the taxes or fees corresponding, at least, to the succeeding quarter shall become due and payable.”
Business owners whose businesses have stopped operating are required to apply for business retirement inorder to bring their business records to a close. The aim of the service is also to verify that these business establishments that have terminated their operations do not have any existing balances in our records, as well as to check the au-
thenticity of the application.

CLIENT/S : Businessmen of Cebu City

Zosima Sebes – Acting Division Chief
Contact/Telephone Number: 412-0000 local 116
LOCATION :  2nd Flr, Exec. Bldg / Business Taxes & Fees Division Cebu City Hall

AVAILABILITY:  Monday to Friday, 8:00 AM to 5: 00 PM

DURATION OF THE SERVICE:  2 weeks & 23 minutes

REQUIREMENTS in Applying for Retirement of Business Operations in Cebu:
1. Previous Business Permit with Official Receipt (O.R.)
2. Verification Sheets/Assessment Sheets Community Tax Certificate (cedula)

Follow these steps…
Wait while

It will take…
1.  Ask for the Application Form for retirement and fill out.
1.  Assigned person checks the business records of the establishment for any unpaid tax balances.
Less than 3 minutes
2. Submit the applicatio
form, together with the
supporting documents
4.  Wait for the Inspection Team to inspect the business establishment certificate of authority.
4.  Inspects the business establishment to validate its claim for retirement.
Maximum of 2 weeks
5.  Pay for the remaining business tax balance to the Cashier (if any). Window/s which indicates "Business Tax Payments
5.  Designated Collector issues the Official Receipt for the payments
Designated cashier
Maximum of 5 minutes
6.  Submit the Official Receipt of the payment made to the verifier.
7.  Releases the approved Retirement certificate to the client.
Less than
15 minutes

Please support us in writing articles like this by sharing this post

Share this post to your Facebook, Twitter, Blog, or any social media site. In this way, we will be motivated to write articles you like.

--- NOTICE ---
If you want to use this article or any of the content of this website, please credit our website (www.affordablecebu.com) and mention the source link (URL) of the content, images, videos or other media of our website.

"How to Apply for Retirement of Business Operations in Cebu" was written by Mary under the Business category. It has been read 3928 times and generated 0 comments. The article was created on and updated on 08 January 2011.
Total comments : 0