Binay to help Itogon in mine shares

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Thursday, December 19, 2013

Itogon, Benguet -- Vice President Jejomar Binay pledged to help this mining town to settle miscalculations in its mining shares in a bid to increase its income.

Binay said he has been informed of the miscalculations in taxes a mining company has been giving the town and is bent to help resolve it.

In the previous years, business taxes from Philex Mining Corporation allegedly due to Itogon have reached millions since 1991.

Itogon has since accounted for P542,277,452.94 in business tax payments from Philex.

Itogon is in the middle of resolving a boundary dispute between Tuba towns which has hampered the payment of taxes; the company has urged both towns to settle their boundary disputes before a tax settlement is to ensue.

Philex has opened an escrow account and deposited P29 million, the money is intended for accumulated business taxes pending payments until boundary disputes between the two towns are settled.

Binay in his visit to the highland town pledged to help resolve the dispute, stressing the importance of setting the income of the town in place in order to allot programs for its people.

Binay recounted the example of Makati, where he served as mayor for two decades, and how it has transformed into a bustling economic center over the years.

Binay emphasized priority programs for the elderly as well as the education sector.

Published in the Sun.Star Baguio newspaper on December 20, 2013.

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