Bags / Shoes & Accessories

Recently, in response to the impact of the new crown pneumonia epidemic on the economy, the local government of Marikina City, Philippines, passed Tax Regulation No. 110, giving business tax reduction and exemption to local shoe and leather product manufacturers, including those preparing to start businesses. . The mayor of the city, Marcy Teodoro, expressed the hope that the ordinance will reduce the burden on businesses caused by the epidemic and help promote the development of the Marikina shoe industry.

Marikina City is located in Luzon Island, Philippines. It is one of the constituent cities of the National Capital Region of Metro Manila and the largest footwear manufacturing city in the Philippines. The production of footwear accounts for about 70% of the country's total. The Philippine International Footwear Center is also set up. Here, the city is known as the "Shoe Capital of the Philippines".

In addition to Tax Regulation No. 110, the city has previously passed two other regulations to mitigate the adverse economic and social impact of the epidemic, including businesses that can pay business tax online, and taxpayers who pay property tax in full. A 20% tax deduction is granted.