Power plants advance negotiated 2-year RPT payments

By July 14, 2014Business, News

LINGAYEN—The two power plants operating in Pangasinan have agreed to pay their real property taxes for the next two years in advance at a rate mutually acceptable to the generation companies and the provincial government.

The TSC and SRPC have offered to pay their real property taxes for 2015 and 2016 at 15 percent assessment level.

The payment terms were defined in the resolution adopted last July 7 by the Sangguniang Panlalawigan (SP) authorizing Governor Amado T. Espino Jr. to sign an agreement for the advance payment of real property taxes of the Team Sual Corporation (TSC) and San Roque Power Corporation (SRPC) covering the years 2015 and 2016.

 

Both power plants have already paid their 2014 real property taxes at 15 percent assessment level through an interim arrangement with the province without prejudice to a future legislation based on a mutually acceptable and permanent arrangement.

“It is the sentiment of the provincial board that accepting payment of real property taxes due from TSC and SRPC in advance at 15 percent assessment level in the meantime, and without prejudice to the final adjunction of concerned authorities on the rightful assessment, would be for the good interest of the province,” said the resolution, which was also authored by SP members Napoleon Fontelera Jr., Antonio Sison, Generoso Tulagan Jr., and Clemente Arboleda Jr.

The resolution clarified that the Pangasinan provincial government may not, in the meantime, compel payment of the real property taxes on the power plant at a higher assessment level until such time that the legal issues on the taxability or tax exemption of the power plant facilities are resolved by the proper authorities. -(Johanne R. Macob)

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