Philex pays P15M business taxes to 2 towns

TUBA, Benguet – Being a responsible and conscientious miner, Philex Mining Corp. has paid almost P15 million in local business taxes for 2018 to the municipalities of Tuba and Itogon. Tuba and Itogon host Padcal mine, the Company’s gold-and-copper operations in this province.

Roselyn Dahilan, finance group manager at Padcal mine, said the timely tax payments empower the host and neighboring communities to shape their own future. “With our up-to-date tax payments, we fulfill our duties to our host and neighboring communities and help them develop and implement their various social projects on time,” Dahilan said.

Tuba and Itogon have become two of the four first-class municipalities in Benguet, owing to the “significant economic impact and fiscal contributions” of Padcal operations, Dahilan had said.

She added the nine other towns in this province listed under third, fourth, and fifth economic classes were all into agriculture, while three of the four first-class municipalities were predominantly mining communities.

“We continue to uphold our commitments in our pursuit of right-and-principled mining, and part of this is paying our taxes religiously,” President and CEO Eulalio Austin, Jr. said. “We are proud that we are able to fulfill our obligations amid the changing operating landscapes and, at the same time, thankful to our host municipalities for trusting us as their partner in community development.”

“We have not backed down on any of our duties and commitments in our pursuit of right-and-principled mining, so it is no wonder that we pay our taxes religiously,” President and CEO Eulalio Austin, Jr. said. “We are proud that we are able to fulfill our obligations and, at the same time, thankful to our host municipalities for trusting us as their partner in community development.”

Dahilan said the tax payments were done in January, with Tuba receiving P7,689,832.68 while Itogon having a share of P7,207,771.81, or a total of P14,897,604.49, in accordance with the towns’ respective revenue codes.

Tuba’s share, in other words, translates to 44 percent of 1 percent of Philex Mining’s gross receipts of P9,984,792,117.17 for 2017after the mandated deductions, one of which was the company’s 50-perecent incentive as a full exporter while Itogon’s is 41.25 percent.

“With our up-to-date tax payments toward the public coffers, we do not only fulfill our duties to our host and neighboring communities, we also help them develop and implement their various social projects on time,” Dahilan said.

Philex Mining, one of the country’s top corporate taxpayers, paid Tuba P7.91 million and, Itogon, P7.41 million, in LBTs last year, while the 2016 taxes paid toward the two host municipalities reached a total of P12.8 million. In 2013, the company coughed up P1.048 billion in local, national, and withheld taxes.

Dahilan earlier said Philex Mining, which has Padcal for its sole operating mine, paid 100 percent of the required regular taxes amounting to P6.6 billion as well as the P3.5 billion in mining-related taxes in the five years to 2015. Which means the company paid 153 percent in taxes for the said period, she stressed.

By HENT

 

Benguet Destinations

Strawberry Farm

La Trinidad is know to be the “Strawberry Capital of the Philippines” because of the strawberry fields. Visitors can experience strawberry picking and also taste different products made from strawberry like the strawberry ice cream and strawberry “taho”.

Asin Hot Springs

Located at the outskirts of the city of Baguio, this attraction gives it’s visitors the chance to indulge in serious relaxation. Asin Hot Springs has been knwon to do wonders for the mind, body and soul because of the spring’s natural minerals like sulfates, calcium and chloride.

BenCab Museum

The BenCab museum, located at KM 6. Asin Road, houses the permanent collection of Philippine National Artist Benedicto Cabrera (BenCab) in several galleries, as well as venues for art shows and exhibitions. The Philippine Contemporary Art Galleries highlight the artist’s collection of paintings, drawings, prints and sculpture. The smaller exhibition rooms contain other collections accumulated by BenCab through the years.

Bell Church

The home to beautiful landscaped gardens and intricately designed arches and buildings adorned with flags, bells and dragons. Bell church holds some artifacts about Buddhism and literatures about the history of China.

Mt. Pulag

Mt. Pulag is the highest peak in Luzon and the third highest in the Philippines which is 2,922 meters above sea level. The view from the top of Mt. Pulag never fails to amaze its climbers.

Kabayan Mummies

Also know as the Fire Mummies of the Philippines, the Kabayan Mummies are from the Ibaloi tribe of Benguet. This have been included in the 100 Most Endangered Sites in the World by a non-profit organization that focuses on the preservation of important historical monuments and sites.

Ambuclao Dam

The Ambuclao dam is popularly known as the biggest rock filled dam in the Far East and is considered as one of the major projects in Luzon that feeds electricity to the grid lines of Luzon.

Rose Gardens

Rose lovers will surely be pleased with Rose Gardens. A famous tourist attraction located in La Trinidad. Here, you will find a large variety of roses, chrysanthemums and other ornamental plants.

Mt. Ugo

This is considered to be one of the major destinations in the Cordilleras. It is the highest mountain located in Tinongdan, Itogon via the Benguet-Vizcayay boundary that boasts of stunning views of neighboring mountains and the great Luzon valley.

Kalugong View Point

A trek to Mount Kalugong is something that adventure seekers and nature lovers woudn't miss. The Kalugong View Point will give you a breathtaking experience and a panoramic view of the La Trinidad Valley and ther villages.
EL Kikasa