• Veterans corporation tells firms to prove tax payments

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    CAGAYAN DE ORO CITY: Officials of the Philippine Veterans Investment Development Corp. (Phividec) in Misamis Oriental on Monday challenged companies with multi-million tax delinquents to show proof of payments.

    Former Cagayan de Oro lawmaker Benjo Benaldo, now a member of the Phividec Board of Directors, laughed off claims of the Steag Estate Power Inc., a coal-fired power plant operating in a Phividec-operated ecozone in Misamis Oriental that it has paid taxes since its operation in 2006.

    “Steag should show proof of payments, because the records of the Phividec showed that [it]has not paid more than P.4 billion back taxes on rental and real property tax,” Benaldo told The Manila Times.

    “If these companies paid their taxes honestly, the issue of tax delinquency would not come to the fore,” he said.

    Benaldo added that the Phividec, which operates the Phividec Industrial Estate-Misamis Oriental, welcomes any investor to the only industrial zone in Northern Mindanao, provided the investor pays the required taxes to the national government.

    He said there are about 80 manufacturing and service companies operating in the 3,500-hectare Phividec ecozone in Misamis Oriental.

    According to Benaldo, the Steag, managed by German engineers, was among the three multinational companies with tax delinquency amounting to more than P1 billion.

    The two others are the Minda­nao International Container Terminal with more than P342 million tax due, and the Philippine Sinter Corp. with a tax delinquency of over P131 million.

    Adding the tax delinquencies of some of the 80 companies in the Phividec ecozone, the total amount of tax deficiency could reach P2 billion, Benaldo said.

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