Phividec companies to settle P2B unpaid taxes

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TAGOLOAN, Misamis Oriental: More than 80 companies in the government-run Philippine Veterans Investment Development Corp. (Phividec) in the industrial economic zone here have agreed to pay the P2-billion unpaid taxes it owed to the national government for over 10 years.

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Phividec Administrator Franklin Quijano said the unpaid estate and rental taxes have remained uncollected from the manufacturing and service companies in the 3,000-hectare Phividec Ecozone since the early years of 2000.

Quijano added that the managements of the companies agreed to pay the tax delinquencies and restructure the payments.

Last month, President Rodrigo Duterte ordered a probe of the uncollected taxes to pinpoint those responsible for the tax mess, which might drag some government officials into what others believed as a “tax scam.”

Former Cagayan de Oro Rep. Benjo Benaldo, a member of the Phividec’s Board of Directors, cited three multinational companies that failed to pay the combined total tax due of more than P1 billion.

He said STEAG, managed by German engineers, was among the big three multinational companies with tax delinquency, as well as Mindanao International Container Terminal and Philippine Sinter Corp.

The Phividec, created on August 13, 1974 by Presidential Decree 538, is owned and controlled by the Philippine government.

Under its charter, it is mandated to “levy, assess and collect real property tax on real properties within the industrial economic zone. Fifty percent of the tax collected would be remitted to the national government treasury to build infrastructure, build hospitals, construct roads, buy medicines, provide education and livelihood.”

CRIS DIAZ

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