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Saturday, February 08, 2003
City eyes P124M tax share from Peza
By Aileen P. Refuerzo
THE City Government expects to collect from the national government this year P124 million representing 40 percent share of the taxes collected from the Baguio City Economic Zone from 1995 to 2002.
This arrangement is a result of months of negotiations waged by Baguio Rep. Mauricio Domogan and Mayor Bernardo Vergara with the national government to collect the said amount they described as the City's rightful earning.
The City's share was remitted to the national government by the local Bureau of Internal Revenue office, which resulted in a rift between City officials and then BIR Regional Director Estrelita Martinez.
The two officials lobbied before the Department of Budget and Management, Department of Finance and the Bureau of Internal Revenue to collect the amount to work out the collection.
Domogan said he was able to locate a provision in the General Appropriations Act allocating 740 million pesos for tax refunds to local government units.
He said the DBM has agreed to lease the amount to the city government as trust fund, which will be used to finance priority projects to be screened by the City Development Council.
The City's 40 percent share is pursuant to Sect. 5 of Revenue Regulations 1-00 dated November 12, 1999, which mandates that three-fifths or 60 percent of the five percent tax due from ECOZONE enterprises shall be collected by the national government through the Commissioner or his duly authorized representative. The two-fifths or 40 percent thereof shall be collected by the concerned city/municipality representing its share from the five percent tax on ECOZONE enterprises.
(February 8, 2003 issue)
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