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Wednesday, October 26, 2005
Dad seeks 2 barangays' share from ecozone taxes
By Rimaliza Opiña
HOST barangays where special economic zones are located should be a given a 30 percent share from the special income derived from their operations, said Councilor Leandro Yangot Jr.
The councilor said this is to augment the income of barangays Loakan-Proper and Loakan-Apugan where international companies such as Adriste, ITA Ampang, Dae Gu Apparel, Tara Designs and Texas Instruments Philippines, Inc. operate.
In a proposed ordinance, Yangot said these companies, after remitting their respective shares to the Office of the City Treasurer, shall, within 10 days upon submission of the city's share, remit to these two barangays their own share from their operations.
Republic Act 7916 or the Special Economic Zone Act of 1995 mandates that host local government units are entitled to a two percent share from the special income tax of companies operating within an SEZ while three percent is remitted to the national government.
Meanwhile, Baguio City Representative Mauricio Domogan reportedly met and presented before city councilors his proposed amendments to the City Charter.
Among the salient points of the proposal is for an increased share of the city from national wealth taxes, titling of city townsite reservation and restructuring of offices at the city government.
(October 26, 2005 issue)
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