TUBA, Benguet March 31 – Philex Mining Corporation paid a total of P14.6 million representing its 2014 business taxes to the municipal governments of Tuba and Itogon as the company’s contribution to help spur socio-economic development within its host and neighboring communities.
Engr. Manuel Agcaoili, Philex vice president for operations and resident manager, explained the company’s timely payment of the business taxes is voluntary on their part considering the need of the local governments for more funds in order to enhance the economic growth of the host and neighboring communities.
“We want that Philex will be instrumental in the development of the remotest villages within our host and neighboring communities through our social development and management projects and the local and national taxes we pay,” Agcaoili stressed.
The check amounting to P7.5 million was personally received by Mayor Florencio V. Bentrez while the check amounting to P7.1 million was also personally received by Itogon Mayor Victorio Palangdan.
Lawyer Eduardo M. Aratas, chief of Philex’s legal and administrative division, explained the discrepancy in the amount of business taxes for 2014 paid by the company to the two local governments, saying that the computations were based on the levels of taxes pegged by the tax ordinances of the two municipalities.
“The amount of business taxes paid to the two municipal governments was based on the computations using the levels pegged by the tax ordinances of the two local governments,” Aratas said.
For his part, Mayor Bentrez disclosed that the business taxes paid by Philex to the local government will primarily be used to bankroll the implementation of poverty alleviation projects and disaster risk reduction and management projects that would be beneficial to the greater majority of their constituents.
“We are happy that we are able to get added income from the operation of Philex which we can utilize to fund the implementation of various priority projects of the municipal government, especially in terms of poverty alleviation and disaster risk reduction,” Bentrez said.
Mayor Palangdan underscored it is good to be harmoniously working with a responsible mining company like Philex because it is able to fulfill its obligations to its host and neighboring communities like the remote villages of his municipality.
“Mining is a major driver of our economy, provided, that the companies exploiting, developing and utilizing our natural resources will do its obligation to the host and neighboring communities,” Mayor Palangdan added.
Philex is one of the country’s major producer of high grade gold and copper in the country and it is located within the municipalities of Tuba and Itogon.
Agcaoili assured local officials of Tuba and Itogon that the company will be religiously paying its business taxes to the host municipal governments in the coming years pursuant to the prevailing tax ordinances of the two municipalities so that there will be added funds that could be used by the local governments to implement their socio-economic development projects.
