Makati suspends amusement taxes

Makati suspends amusement taxes

THE MAKATI City government has suspended the collection of amusement taxes for performers in public places as part of its efforts to boost local tourism in the city.

In a statement, the local government unit said its city council on Wednesday approved an ordinance that suspended the collection of taxes, as Mayor Marlen Abigail “Abby” Binay-Campos said the move would encourage more investment in creative projects and pave the way for more economic growth in the tourism sector.

“By suspending amusement taxes, we are promoting economic sustainability and empowering the creative force within our city,” she said in a letter to the council.

Under the Revised Makati Revenue Code, the city collects amusement fees for any theatrical, musical, or other performance in public areas.

The Makati mayor added that the suspension is in accordance with the national government’s efforts to foster local creative industries spearheaded by the Department of Trade and Industry (DTI).

Earlier this month, Trade Undersecretary Rafaelita M. Aldaba said the creative industry is expected to grow between 6% and 8% next year in terms of gross value added, citing a 15.5% year-on-year growth in the third quarter of the year.

In the third quarter, the creative industry generated P52.8 billion in gross value added. It accounts for 7.3% of the Philippine economy or P1.6 trillion in 2022.

The creative industry employed 6.98 million workers in 2022, mostly involved in traditional cultural activities.

“We can foster the growth and sustainability of the creative industries within our city, thereby stimulating economic activity and attracting tourism,” Ms. Binay said. — John Victor D. Ordoñez