SECTION 4. Basis for Tax on Newly Started Business.

- The capital
investment to be used as basis of the tax of a newly started business as
herein provided shall be determined in the following manner:

(1) In the locality where the principal office of the business is located,
the subscribed capital stated in the articles of incorporation or in
any document in case of other types of business organizations or
enterprises; or the actual capitalization, which is the total money
spent to keep the business started and running and/or afloat,
whichever is higher, shall be considered as capital investment.

(2) Where there is a branch or sales office which commences business

operations during the same year as the principal office but which is
located in another province or in a city outside the province, the
paid-up capital referred to above shall be reduced by the amount
of the capital investment made for the said branch or sales office
which shall be taxable instead by the province or city where it is
located.

(3) Where the newly started business is a branch or sales office

commencing business operations at a year later than that of the
principal office, capital investment shall mean the total funds
invested in the branch or sales office.

The City Treasurer is hereby authorized to devise appropriate

methods

SECTION 12. Professional and Occupational Tax. - Coverage. -

There is hereby imposed an annual professional tax of THREE
HUNDRED PESOS (Php300.00) on each person engaged in the
exercise or practice of his/her profession requiring government
examination, and who has principal office or domicile in the City of
Mandaue. The professionals subject to tax herein are those who have
passed the bar examinations, or any board or other examinations
conducted by the Professional Regulatory Commission (PRC) or any
government agency. All the rest shall pay an Occupational tax of ONE
HUNDRED PESOS fPhplOO.OOh

1. Every person who has paid the corresponding professional

tax shall be entitled to practice his/her profession in any
part of the Philippines without being subjected to any other
national or local tax license, or fee for the practice of such
profession.

2. Administrative Requirements. -
 a. Any individual or corporation within the territorial
jurisdiction of Mandaue City employing a person subject
to professional and occupational tax, shall require
payment by the said person of the tax on his/her
profession, before employment and annually thereafter.

b. Any person subject to professional tax shall write in

deeds, receipts, prescriptions, reports, books of
accounts, plans and designs, surveys and maps as the
case may be, the number of receipt, date and place of
issue.

Every individual, association, partnership, and corporation within the

territorial jurisdiction of Mandaue City shall prepare and submit a certified
list of employees and/or personnel liable for payment of /the professional
and/or occupational tax-ftrspetfiyely unjder