The Iloilo City Government recently expressed its gratefulness to the city’s top taxpayers for paying in advance in a bid to aid the city in battling the recent coronavirus disease. Iloilo City Mayor Jerry Treñas mentions Global Business Power Corporation (GBP) for its payment of Php 147 million to the City Treasurer last June 05, as payment for its real property tax. Moreover, Panay Energy Development Corp. (PEDC) paid Php 109 million and Panay Power Corp. (PPC) paid Php 38 million.
“Upon my request for advance payment of business and realty taxes, some big taxpayers are helping out the city,” states Iloilo City Mayor Jerry Treñas, in a post by the Iloilo City Government page.
Moreover, City Treasurer Jinny Hermano revealed that PEDC paid for the second quarter while PPC paid for the 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. Our problem is that the small and medium enterprises will really find it hard to bounce back because of the effects of COVID-19. 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,” states City Treasurer Jinny Hermano.