Bizman: Revised Revenue Code 'bound to distract business climate'

BUSINESSMAN Vladimir Gonzalez said the implementation of the revised Revenue Code is bound to distract the business climate in Bacolod.

He believes that implementation of such code lacks consultation and not well thought of and it is sending a wrong signal to the investors.

Businessmen always see to it that the business climate should be predictable. The high rate of taxes is not good for business.

The City Government of Bacolod should have repealed the Code before they dialogued with the business sector, he said, adding that “what they did was to implement first the code and then sit down with the business sector.”

"The moment you agree with the city, it is an admission that the new code is being legalized and accepted by the business sector when in fact the real sentiment is different. Our officials should be business level minded and not just implement it for the heck of implementing it. We don't say that we will not pay taxes. But the increase should be done on a graduated scheme and not harshly. The city can find more ways to collect more taxes not just by whipping the business sector with high tax rates," he said.

He said the city should have also helped the small and medium enterprises to grow and it can help in revenue generation.

Taking the Chinese belief that even though the taxes are low when there are many who pay taxes, it will still mean good revenue generation for the city, he said.

"When the businessmen are happy, the consumers are also happy because the prices are competitive," he said.

But now, only the city is happy, as the increase of taxes up to 400 percent has pushed other businesses to downsize and even transfer to other areas, he said.

He said the business sector will not want to complain, as long as they are taxed reasonably and they see that the taxes they pay go to prudent use.

But there are now reports that the city hire additional casuals to work for the administration during elections. (CNC)