Philippines : Vizcaya pushes tax reforms for big companies.
The provincial government is updating its tax collection programs and policies including tax system payments to run after big companies operating in the province.
Rhoda Moreno, provincial treasurer, said the provinces revenue code and other local revenue issuances are meant to maximize their collection of taxes among major companies in the province such as in mining, telecommunications and power generating industries.
Our tax code and other local revenue tax issuances are not for our own lowly taxpayers but for big companies who are doing their business in our province, she said.
Moreno bared that the present big companies operating in the province are the Casecnan Multi-Purpose Irrigation and Power Project (CMIPP) in Alfonso Castaneda town, OceanaGold Philippines (OGPI) in Kasibu town, FCF Minerals Corp. in Quezon town, Globe, Smart and PLDT telecommunications companies, among others.
According to Moreno, the mining towns of Kasibu and Quezon ranked first and second, respectively, in terms of Real Property Tax (RPT) collection in the country in 2017 out of 1,400 Municipal Local Government Units (MLGUs).
The RPT collection from our big companies are also contributing much to our income. However, there are still uncollected RPTs due to legal cases filed by several companies, she further said.
The provincial government, Moreno added is also implementing new tax policies for the extraction of sand and gravel tax among contractors which is also eyed as a major sources of the province's income.
She said contractuals were recently hired to guard snad and gravel quarry areas and sites to ensure the compliance of extractors in paying their proper taxes.
Before these contractors can extract, we ask them to pay first their financial obligation to the provincial government. With this, we have improved our sand and gravel tax collection which increased over the years, Moreno said.
[c] 2019 Al Bawaba (Albawaba.com) Provided by SyndiGate Media Inc. ( Syndigate.info ).
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|Date:||Mar 6, 2019|
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