15 December 2009

QC assures no tax raise will be imposed

Quezon City officials Monday assured the city’s business community that no tax increases will be imposed until the current administration’s term ends on June 30, 2010.

Mayor Feliciano Belmonte Jr. gave the assurance as he sees that there is no need for the city government to enforce higher tax rates with the support and cooperation of the taxpayers.

“Many people companies are contributing to the growth of Quezon City,’’ Belmonte added.

He cited the business community for its overwhelming support to the city’s economic development plan making the city as the richest local government unit (LGU) in the country.

Recently, the city government honored the city’s top taxpayers in simple rites held at the Crowne Plaza Galleria.

Honored as the city’s top taxpayers in the real property category were (premier-fiscal year 2008) SM Prime Holdings, Araneta Group of Companies, North Triangle Depot Commercial Corporation, Robinsons Land Corporation, Megaworld Corporation, ABS-CBN Broadcasting Corporation, Philippine Long Distance Telephone Company, GMA Network, Manila Electric Company and Nestle Philippines.

Also named top taxpayers in the same category were Citibank, NA, Metropolitan Bank and Trust Company, Bangko Sentral ng Pilipinas, Phinma Property Holdings, Pilipinas Makro Inc., Banco de Oro Universal Bank, De Zuzuarregui Antonio, LBL Industries, Bank of the Philippine Islands, Rustan'S Commercials Inc., San Miguel Corporation, The Everliving Company, S&R Membership Shopping, Mercury Drug Corporation and National Book Store.

By Chito A. Chavez

Manila Bulletin

December 9, 2009