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Friday, April 29, 2005
Hedcor asks Benguet LGUs to hold in trust tax payments
BAGUIO -- Local government units (LGUs) where the Hydro Electric Development Corporation (Hedcor) and the Northern Mini Hydro Corporation paid taxes for 2004 were told to "hold in trust" the tax payments of the company.
Rene Ronquillo, Hedcor president and chief operating officer, said these payments should remain in the concerned municipal treasuries, pending the resolution of the protest.
Last year, Hedcor paid in protest its taxes reportedly due to the increase on the assessed real property charges due to five Benguet municipalities. It was not, however, learned if how much was the total amount paid by the power plant.
"Please be informed that the protests filed by Hedcor on the payment of real property taxes for the year 2004 are still pending. Appeals on these protests are yet to be decided by the Local Board of Assessment Appeals," Ronquillo told the municipal treasurers of La Trinidad, Itogon, Tuba, Sablan, Bakun and the Benguet provincial treasurer in a letter.
"In view of the pendency of the protests, you are expected to continue to hold in trust the tax or portion thereof protested. These tax payment, as well as future protested tax payments, therefore, are expected to remain in the coffers of your treasury to answer to whatever may be the final resolution in the protests," the letter stated. (JC)
(April 29, 2005 issue)
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