An Ordinance Amending Section 66 (20) of Approved Ordinance No. 0386 Series of 2004, "The Caloocan City Updated Revenue Code of 2004"

June 6, 2006CALOOCAN CITY ORDINANCE NO. 0401-06(PROPOSED ORDINANCE NO. 1115)AN ORDINANCE AMENDING SECTION 66 (20) OF APPROVED ORDINANCE NO. 0386 SERIES OF 2004 OTHERWISE KNOWN AS "THE CALOOCAN CITY UPDATED REVENUE CODE OF 2004", REDUCING THE TAX RATES BEING IMPOSED ON TECHNICAL AND VOCATIONAL SCHOOLS FROM TWENTY FIVE PERCENT OF ONE PERCENT (25% OF 1%) TO TWELVE AND A HALF PERCENT OF ONE PERCENT (12.5% OF 1%) OF THE GROSS RECEIPTS FOR THE PRECEDING CALENDAR YEARWHEREAS, Section 66 (20) of "The Caloocan City Updated Revenue Code of 2004" clearly indicates that 25% of 1% on the gross receipts of the preceding calendar year shall be the tax rate to be imposed on owners or operators of schools, colleges and universities; WHEREAS, currently, all schools, including technical and vocational schools in this City, are being assessed at a tax rate of 25% of 1% of their gross receipts for the preceding year;WHEREAS, technical and vocational schools offer short-term courses with minimal tuition fee rate for enrollees certified by the barangay chairman as belonging to the lower...