The remittance of the levy of the tax imposed under this Subdivision shall be made on or before the last day of each month covering the amount of tax collected during the preceding month. Any person operating a hotel regularly throughout the year may, upon written application to, and with the consent of the Director of Finance, make reports and remittances on a quarterly basis in lieu of the monthly basis. Such quarterly payments shall be made on or before the last days of April, July, October and January in each year. They shall cover the amounts collected during the three (3) months immediately preceding the months in which reports and remittances are required.