In addition to all other power conferred upon him, the Collector shall have the power, for good cause shown, to extend the time for filing any required sworn statement and tax resulting therefrom for a period not exceeding thirty days, and in such case to waive any penalty that would otherwise have accrued; and shall have the further power, with the consent of the City Council, to compromise any claim as to amount of business tax due. (Ord. 2062 § 2 (part), 1975).