The Iloilo City Government is grateful to top taxpayers for advancing payments in an effort to help the metropolis in moving forward amid the pandemic.
“Upon my request for advance payment of business and realty taxes, some big taxpayers are helping out the city,” Mayor Jerry P. Treñas said.
Treñas noted Global Business Power Corporation (GBP) paid on June 5 the City Treasurer the amount of P147-M representing advance payment of real property taxes including P109-M for Panay Energy Development Corp.(PEDC) and P38-M for Panay Power Corp.(PPC).
City Treasurer Jinny Hermano said some of biggest taxpayers, PEDC paid for second quarter, while PPC paid for second to fourth quarter.
“It’s really a big help to have a buffer to pay for our obligations. Actually all are affected, though at least the big taxpayers have capacity to pay,” Hermano said.
“Our problem is that the small and medium enterprises will really find it hard to bounce back because of the effects of COVID-19,” he added.
“So while waiting for the payments of small and medium businesses, at least the big taxpayers have funds provided to us, until such time the smaller ones will be able to pay,” said Hermano. (Iloilo City PIO)