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Wednesday, September 21, 2005
Power firm pays P12M in franchise tax to City
CITING support to the City Government of San Fernando's campaign to improve tax collection efficiency, an electricity supplier in the city has started paying the P12 million in franchise tax.
The San Fernando Light and Power Company (Sfelapco) remitted the initial P5 million of the P12 million franchise tax during the celebration of Mayor Oscar S. Rodriguez's 60th birthday last Monday.
The payment, received by Rodriguez and City Treasurer Oscar Parungao, was handed over by Sfelapco senior vice president and general manager Jose Lazatin.
Lazatin, accompanied by the company's chief accountant Chona Cunanan and office manager Fe Varona, has vowed to settle the remaining P7 million through a P1 million per month payment starting October up to April next year.
The P12 million represents the firm's franchise tax on gross receipts from the last quarter of 2001 to August 2005.
Lazatin said Sfelapco supports the City Government and believes in the objectives of Rodriguez's administration.
For his part, Councilor Alex F. Patio, chairman of the City Council committee on ways and means, said Sfelapco's settlement of its tax dues is hoped to send a signal to other businesses to support the City's effort to strengthen its tax collection.
A telephone company, he said, has also signified intention to remit its franchise tax dues.
Patio said the City Council is not imposing new taxation but merely implementing properly existing tax ordinances enacted during the past administrations. (ABL)
(September 21, 2005 issue)
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