|
Friday, March 28, 2003
Asiatown to City: Tell us what to do
By Jessica B. Natad
ASIATOWN Information Technology (IT) Park developer Cebu Property Ventures and Development Corp. (CPVDC) has asked Cebu City Hall to advise the company on what it should do for the Cebu City local government to recognize Asiatown as an economic zone.
“If it needs an ordinance, we will apply for it. We don’t know what to do,” Cebu Holdings Inc. (CHI) corporate communications manager Ver de la Cerna said.
Ayala Land Inc. affiliate CHI is the mother company of CPVDC.
In a letter to Cebu City Mayor Tomas Osmeña, CHI president Rene Almendras sought guidance on what CHI needs to do for Asiatown and its locators to be able to avail themselves of tax incentives from the Cebu City local government.
“While we understand the current aggressive tax drive of the City, we can’t also ignore altogether the incentives granted to ecozone locators by the National Government through Peza (Philippine Economic Zone Authority),” he said.
Cebu City Treasurer Ofelia Oliva had earlier said locators of the first IT park in Cebu would have to pay their local business taxes this year, as Cebu City has not yet recognized Asiatown, located in barangay Apas, as an economic zone.
She said a city ordinance recognizing the presence of the economic zone had to be passed first before locators were exempted from paying local business taxes.
Incentives
Locators of economic zone are entitled to tax incentives such as paying only the five percent special tax based on gross income, in lieu of national taxes as well as the local business taxes imposed by the local governments.
Peza declared Asiatown an IT special economic zone in February 2001 after President Arroyo signed Presidential Proclamation 12.
According to a document furnished Sun.Star, the Cebu City Council under the administration of then Vice Mayor Renato Osmeña also endorsed Asiatown in Resolution 00-4996 passed on June 7, 2000.
CHI said Asiatown locators have raised serious concerns after the statement of Oliva.
“There is a lot to be done to harmonize nationally promulgated incentives with local ones. The process should be carried out seamlessly in the interest of sound investor relations,” Almendras said.
Asiatown has three locators. These are NEC Software Philippines, Tsuneishi Technical Services (Philippines) Inc. and Globe Telecom.
(March 28, 2003 issue)
Want Sun.Star news on your mobile phone? Click here.
Write letter to the editor. Click here.
Join the Sun.Star message board. Click here. |
|
[ return
to top ]
[ home
]
|
LOCAL NEWS
BUSINESS
OPINION
SPORTS
LIFESTYLE
FEATURE
SUPERBALITA
WEEKEND
|
