Guv happy over Philex payments-A A +A
Monday, April 21, 2014
LA TRINIDAD, Benguet -- Governor Nestor Fongwan is happy over the recent agreement between Philex Mining Corporation and highland towns.
Fongwan said with the resolution of tax payments underway, a periodic payment can now be made for both Itogon and Tuba, resolving once and for all long drawn out tax woes.
An agreement between Philex Mining Corporation and twin municipalities, Tuba and Itogon, has finally been reached.
"Dapat lang naman na mag bayad ang Philex, matagal na yan," Fongwan said.
Fongwan added the initiatives of Itogon Mayor Victorio Palangdan paid off saying, "We have been negotiating with them for a long time."
Itogon and Tuba towns have agreed to settle the business tax issue to the tune of P200 million through formal talks with the mining firm's legal counsels.
Tuba and Itogon are in the midst of a boundary dispute, which made payments of business taxes difficult for the mining company which initially opted to wait for courts to decide on the legal matter.
Fongwan said the agreement puts into place taxes the mining firm has to pay to both towns even as courts resolve the dispute.
Fongwan hopes the agreement will be a way to lay the groundwork to finally resolve the boundary dispute between the two towns in the future.
A formal signing of the Memorandum of Agreement is now pending to seal the deal.
Published in the Sun.Star Baguio newspaper on April 22, 2014.