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Patakaran sa Buwis sa Paghuhusga sa Pilipinas Philippines Cebu City Mayor Michael Rama wants the fair market value in the revised real property tax (RPT) ordinance to reflect the current rate, despite calls from businessmen to stagger its implementation.“Pass the law, and we can discuss the implementing rules after,” Rama said over Cebu City Hall’s online program “Ingna’ng Mayor” on Thursday, Feb. 29, 2024.As the mayor of the City of Cebu, Rama said he wants it approved.On Tuesday, Feb. 27, Rama urged the City Council to pass the ordinance pertaining to the revised RPT before the end of this month.However, City Councilor Noel Eleuterio Wenceslao, chairman of the committee on budget and finance, said he still needs to meet the other councilors to discuss the matter and reach a consensus.Wenceslao said jumping to final deliberations without having the stance of the majority might simply defer the ordinance.In his point of view as a lawyer, Rama argued that implementing rules may be deferred within reasonable time to allow those affected to adjust their operational and financial management.“But let the fair market value already be back to what it is at the current time,” Rama said.Rama found it unfair that property owners have enjoyed paying taxes based on the value 20 years ago.The RPT Code of Cebu City was last revised in 2002.“Ang yuta bayran na unta (The tax paid on real estate should be) on the present value,” Rama said.He said it is the rich’s corporate social responsibility to share by paying the right amount of taxes.ReactionOn Saturday, Cebu Chamber of Commerce and Industry (CCCI) president Jay Yuvallos said they are proactively working with the mayor, his team and the City Council on this. On the matter of the fair market valuation, he said they hope that it will reflect a truthful and realistic value. “Certainly not based on speculation (bloated), a reflection of a fair value will also protect the land owner,” he said. He said the mayor has also intimated that the implementation will be on a staggered basis. “What is important and the clamor of everyone is that the increase will be gradual so that it becomes affordable. This is subject to a more thorough discussion when we get there,” he said, adding: “We also take cognizance of the fact that they need revenues to finance projects which we also want to see very soon, especially infrastructure projects that can significantly impact the lives of every Cebuano.”Yuvallos said the goal of the chamber is to help its members and the business community in general to expand and grow business. “This will in effect widen the tax base (not only RPT) as a source of revenue for the City. We will work with the City on the ‘Ease of Doing Business’ and helping promote a Business-Friendly Cebu City as what the mayor wanted to espouse,” he said. He said the CCCI will introduce programs that will encourage expansion and investments into the city and promote global competitiveness of the enterprises in Cebu.Proposed ordinanceUnder the proposed ordinance, the formula for deriving the total tax due as explained during the public hearing Friday is getting first the market value of the property. This can be determined by multiplying the land area by the fair market value (FMV).Skyrocketing taxesAfterwards, the market value will be multiplied by the assessment level, which will generate the assessed value. Then, the assessed value will be multiplied by the three percent tax rate. The result is the total tax due.For instance, a 1,493-square-meter commercial property in the Cebu IT Park with a current tax due of P26,874 will have a tax due of P895,800 once the updated tax ordinance gets implemented.Similarly, a portion of Cebu Business Park under the jurisdiction of Barangay Hipodromo will see its FMV shoot up to P245,000 from P16,300 per square meter, significantly affecting the RPT that Ayala Land will have to cough up if the measure is approved.In the proposed RPT ordinance, the market value of properties in some prime locations in Cebu City is expected to increase from 200 to 3,200 percent. Mayor Rama urged the passage of the RPT Code in order to raise funds to realize the objectives of his administration like the Gubat sa Baha (War against Flooding) and other projects like the transitional housing that will house the families affected by the clearing of three-meter easement zones.On Cebu City Hall’s online program “Pagtuki, Pagsusi, Pagsuta” on Wednesday, Feb. 28, City Budget Officer Jerone Castillo said P600 million is intended for the design and construction of 600 transitional housing units for the first phase of the project.The P600 million is one of the items in the first supplemental budget that the executive department has requested the council to approve this year.Other items include budget allocations for the Palarong Pambansa, Charter day bonus, and adjustments for the City Council.

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Cebu City Mayor Michael Rama wants the fair market value in the revised real property tax (RPT) ordinance to reflect the current rate, despite calls from businessmen to stagger its implementation.“Pass the law, and we can discuss the implementing rules after,” Rama said over Cebu City Hall’s online program “Ingna’ng Mayor” on Thursday, Feb. 29, 2024.As the mayor of the City of Cebu, Rama said he wants it approved.On Tuesday, Feb. 27, Rama urged the City Council to pass the ordinance pertaining to the revised RPT before the end of this month.However, City Councilor Noel Eleuterio Wenceslao, chairman of the committee on budget and finance, said he still needs to meet the other councilors to discuss the matter and reach a consensus.Wenceslao said jumping to final deliberations without having the stance of the majority might simply defer the ordinance.In his point of view as a lawyer, Rama argued that implementing rules may be deferred within reasonable time to allow those affected to adjust their operational and financial management.“But let the fair market value already be back to what it is at the current time,” Rama said.Rama found it unfair that property owners have enjoyed paying taxes based on the value 20 years ago.The RPT Code of Cebu City was last revised in 2002.“Ang yuta bayran na unta (The tax paid on real estate should be) on the present value,” Rama said.He said it is the rich’s corporate social responsibility to share by paying the right amount of taxes.ReactionOn Saturday, Cebu Chamber of Commerce and Industry (CCCI) president Jay Yuvallos said they are proactively working with the mayor, his team and the City Council on this. On the matter of the fair market valuation, he said they hope that it will reflect a truthful and realistic value. “Certainly not based on speculation (bloated), a reflection of a fair value will also protect the land owner,” he said. He said the mayor has also intimated that the implementation will be on a staggered basis. “What is important and the clamor of everyone is that the increase will be gradual so that it becomes affordable. This is subject to a more thorough discussion when we get there,” he said, adding: “We also take cognizance of the fact that they need revenues to finance projects which we also want to see very soon, especially infrastructure projects that can significantly impact the lives of every Cebuano.”Yuvallos said the goal of the chamber is to help its members and the business community in general to expand and grow business. “This will in effect widen the tax base (not only RPT) as a source of revenue for the City. We will work with the City on the ‘Ease of Doing Business’ and helping promote a Business-Friendly Cebu City as what the mayor wanted to espouse,” he said. He said the CCCI will introduce programs that will encourage expansion and investments into the city and promote global competitiveness of the enterprises in Cebu.Proposed ordinanceUnder the proposed ordinance, the formula for deriving the total tax due as explained during the public hearing Friday is getting first the market value of the property. This can be determined by multiplying the land area by the fair market value (FMV).Skyrocketing taxesAfterwards, the market value will be multiplied by the assessment level, which will generate the assessed value. Then, the assessed value will be multiplied by the three percent tax rate. The result is the total tax due.For instance, a 1,493-square-meter commercial property in the Cebu IT Park with a current tax due of P26,874 will have a tax due of P895,800 once the updated tax ordinance gets implemented.Similarly, a portion of Cebu Business Park under the jurisdiction of Barangay Hipodromo will see its FMV shoot up to P245,000 from P16,300 per square meter, significantly affecting the RPT that Ayala Land will have to cough up if the measure is approved.In the proposed RPT ordinance, the market value of properties in some prime locations in Cebu City is expected to increase from 200 to 3,200 percent. Mayor Rama urged the passage of the RPT Code in order to raise funds to realize the objectives of his administration like the Gubat sa Baha (War against Flooding) and other projects like the transitional housing that will house the families affected by the clearing of three-meter easement zones.On Cebu City Hall’s online program “Pagtuki, Pagsusi, Pagsuta” on Wednesday, Feb. 28, City Budget Officer Jerone Castillo said P600 million is intended for the design and construction of 600 transitional housing units for the first phase of the project.The P600 million is one of the items in the first supplemental budget that the executive department has requested the council to approve this year.Other items include budget allocations for the Palarong Pambansa, Charter day bonus, and adjustments for the City Council. Is Philippines good at basketball? TWENTY-FOUR lot owners in the northern town of Daanbantayan, Cebu have agreed to sell their properties to the Cebu Provincial Government for the construction of a 150-megawatt (MW) solar power plant.But 26 other lot owners are still undecided.In an interview after the signing of a memorandum of agreement (MOA) with the proponent for the building of the plant, at the Capitol building on Saturday, March 16, 2024, Daanbantayan Mayor Sun Shimura told SunStar Cebu that they explained to the lot owners that the project seeks to lower electric bills in the province.Shimura said the Provincial Government is buying the properties for P130 per square meter. He said some owners own more than two lots.IncentivesHe said the governor also assured those who agree to sell that they will be exempted from paying tax, including the capital gains, transfer and documentary stamp tax.And if they want to work in the facility once it opens, they will be prioritized in the hiring, he added.Shimura said there was a plan to transfer the location of the proposed solar power plant to the third district, so the municipality, which is in the fourth district, exerted efforts to convince the lot owners to sell their properties. He said once completed, the facility will spur economic development not only in the town but also in neighboring municipalities and in Bogo City, where an economic zone has been proposed.The mayor admitted that there are a lot of owners who are hesitant to sell, which may prompt them to resort to expropriation proceedings.On Saturday, the Provincial Government signed the MOA with Consortium Acciona Energia Global and Freya Renewables Inc. for a 25-year build-transfer-operate scheme for the project.The Spain-based Acciona Energia Global and Makati-based Freya Renewables Inc. will build the solar power plant, which will be one of the largest renewable energy facilities in the country, on a 185-hectare lot in Barangay Talisay.The MOA signing was led by Gov. Gwendolyn Garcia and Vice Gov. Hilario Davide III, Ignacio Domecq of Acciona Energia Global Ltd. and Fermin Alvarez of Freya Renewables Inc.It was witnessed by Energy Secretary Raphael Lotilla, among others.Acciona Energia Global was also involved in the construction of the Cebu-Cordova Link Expressway, the longest bridge in the Philippines spanning 8.9 kilometers.Secretary’s messageAs of the moment, Shimura told SunStar Cebu, he has no information on the schedule of the civil works, adding that their involvement in the project was in the issuance of permits and talking to lot owners.Secretary Lotilla, in his speech on Saturday, said the MOA advanced the efforts of the Marcos Jr. administration to increase the country’s renewable energy portfolio.He pointed out that Cebu is the center of the transmission grid of the country, connecting the Luzon, Visayas and Mindanao grids.He said the solar power plant in Daanbantayan is a step forward for Cebu to be no longer reliant on power generation facilities from another region in case there are problems in the power cable grid.In her speech, Governor Garcia stressed the importance of the Capitol’s involvement in the energy sector to lower the price of electricity, which was why she signed the MOA with the two energy firms.She said the date of the MOA signing coincided with the arrival of the Spaniards in the archipelago 500 years ago, but his time as investors, not conquerors.The governor added that civil works will take only a year and a half.In a Facebook post on Thursday, March 14, Vice Governor Davide said the Provincial Board authorized Garcia to sign the contract on Monday, March 11.Although there was no mention of the project’s total cost, Solar Philippines president Leandro Leviste said in 2017 that the cost to put up a solar plant was equivalent to US$1 million per MW. (EHP)

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TWENTY-FOUR lot owners in the northern town of Daanbantayan, Cebu have agreed to sell their properties to the Cebu Provincial Government for the construction of a 150-megawatt (MW) solar power plant.But 26 other lot owners are still undecided.In an interview after the signing of a memorandum of agreement (MOA) with the proponent for the building of the plant, at the Capitol building on Saturday, March 16, 2024, Daanbantayan Mayor Sun Shimura told SunStar Cebu that they explained to the lot owners that the project seeks to lower electric bills in the province.Shimura said the Provincial Government is buying the properties for P130 per square meter. He said some owners own more than two lots.IncentivesHe said the governor also assured those who agree to sell that they will be exempted from paying tax, including the capital gains, transfer and documentary stamp tax.And if they want to work in the facility once it opens, they will be prioritized in the hiring, he added.Shimura said there was a plan to transfer the location of the proposed solar power plant to the third district, so the municipality, which is in the fourth district, exerted efforts to convince the lot owners to sell their properties. He said once completed, the facility will spur economic development not only in the town but also in neighboring municipalities and in Bogo City, where an economic zone has been proposed.The mayor admitted that there are a lot of owners who are hesitant to sell, which may prompt them to resort to expropriation proceedings.On Saturday, the Provincial Government signed the MOA with Consortium Acciona Energia Global and Freya Renewables Inc. for a 25-year build-transfer-operate scheme for the project.The Spain-based Acciona Energia Global and Makati-based Freya Renewables Inc. will build the solar power plant, which will be one of the largest renewable energy facilities in the country, on a 185-hectare lot in Barangay Talisay.The MOA signing was led by Gov. Gwendolyn Garcia and Vice Gov. Hilario Davide III, Ignacio Domecq of Acciona Energia Global Ltd. and Fermin Alvarez of Freya Renewables Inc.It was witnessed by Energy Secretary Raphael Lotilla, among others.Acciona Energia Global was also involved in the construction of the Cebu-Cordova Link Expressway, the longest bridge in the Philippines spanning 8.9 kilometers.Secretary’s messageAs of the moment, Shimura told SunStar Cebu, he has no information on the schedule of the civil works, adding that their involvement in the project was in the issuance of permits and talking to lot owners.Secretary Lotilla, in his speech on Saturday, said the MOA advanced the efforts of the Marcos Jr. administration to increase the country’s renewable energy portfolio.He pointed out that Cebu is the center of the transmission grid of the country, connecting the Luzon, Visayas and Mindanao grids.He said the solar power plant in Daanbantayan is a step forward for Cebu to be no longer reliant on power generation facilities from another region in case there are problems in the power cable grid.In her speech, Governor Garcia stressed the importance of the Capitol’s involvement in the energy sector to lower the price of electricity, which was why she signed the MOA with the two energy firms.She said the date of the MOA signing coincided with the arrival of the Spaniards in the archipelago 500 years ago, but his time as investors, not conquerors.The governor added that civil works will take only a year and a half.In a Facebook post on Thursday, March 14, Vice Governor Davide said the Provincial Board authorized Garcia to sign the contract on Monday, March 11.Although there was no mention of the project’s total cost, Solar Philippines president Leandro Leviste said in 2017 that the cost to put up a solar plant was equivalent to US$1 million per MW. (EHP) Is Philippines good at basketball?

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Cebu City Mayor Michael Rama wants the fair market value in the revised real property tax (RPT) ordinance to reflect the current rate, despite calls from businessmen to stagger its implementation.“Pass the law, and we can discuss the implementing rules after,” Rama said over Cebu City Hall’s online program “Ingna’ng Mayor” on Thursday, Feb. 29, 2024.As the mayor of the City of Cebu, Rama said he wants it approved.On Tuesday, Feb. 27, Rama urged the City Council to pass the ordinance pertaining to the revised RPT before the end of this month.However, City Councilor Noel Eleuterio Wenceslao, chairman of the committee on budget and finance, said he still needs to meet the other councilors to discuss the matter and reach a consensus.Wenceslao said jumping to final deliberations without having the stance of the majority might simply defer the ordinance.In his point of view as a lawyer, Rama argued that implementing rules may be deferred within reasonable time to allow those affected to adjust their operational and financial management.“But let the fair market value already be back to what it is at the current time,” Rama said.Rama found it unfair that property owners have enjoyed paying taxes based on the value 20 years ago.The RPT Code of Cebu City was last revised in 2002.“Ang yuta bayran na unta (The tax paid on real estate should be) on the present value,” Rama said.He said it is the rich’s corporate social responsibility to share by paying the right amount of taxes.ReactionOn Saturday, Cebu Chamber of Commerce and Industry (CCCI) president Jay Yuvallos said they are proactively working with the mayor, his team and the City Council on this. On the matter of the fair market valuation, he said they hope that it will reflect a truthful and realistic value. “Certainly not based on speculation (bloated), a reflection of a fair value will also protect the land owner,” he said. He said the mayor has also intimated that the implementation will be on a staggered basis. “What is important and the clamor of everyone is that the increase will be gradual so that it becomes affordable. This is subject to a more thorough discussion when we get there,” he said, adding: “We also take cognizance of the fact that they need revenues to finance projects which we also want to see very soon, especially infrastructure projects that can significantly impact the lives of every Cebuano.”Yuvallos said the goal of the chamber is to help its members and the business community in general to expand and grow business. “This will in effect widen the tax base (not only RPT) as a source of revenue for the City. We will work with the City on the ‘Ease of Doing Business’ and helping promote a Business-Friendly Cebu City as what the mayor wanted to espouse,” he said. He said the CCCI will introduce programs that will encourage expansion and investments into the city and promote global competitiveness of the enterprises in Cebu.Proposed ordinanceUnder the proposed ordinance, the formula for deriving the total tax due as explained during the public hearing Friday is getting first the market value of the property. This can be determined by multiplying the land area by the fair market value (FMV).Skyrocketing taxesAfterwards, the market value will be multiplied by the assessment level, which will generate the assessed value. Then, the assessed value will be multiplied by the three percent tax rate. The result is the total tax due.For instance, a 1,493-square-meter commercial property in the Cebu IT Park with a current tax due of P26,874 will have a tax due of P895,800 once the updated tax ordinance gets implemented.Similarly, a portion of Cebu Business Park under the jurisdiction of Barangay Hipodromo will see its FMV shoot up to P245,000 from P16,300 per square meter, significantly affecting the RPT that Ayala Land will have to cough up if the measure is approved.In the proposed RPT ordinance, the market value of properties in some prime locations in Cebu City is expected to increase from 200 to 3,200 percent. Mayor Rama urged the passage of the RPT Code in order to raise funds to realize the objectives of his administration like the Gubat sa Baha (War against Flooding) and other projects like the transitional housing that will house the families affected by the clearing of three-meter easement zones.On Cebu City Hall’s online program “Pagtuki, Pagsusi, Pagsuta” on Wednesday, Feb. 28, City Budget Officer Jerone Castillo said P600 million is intended for the design and construction of 600 transitional housing units for the first phase of the project.The P600 million is one of the items in the first supplemental budget that the executive department has requested the council to approve this year.Other items include budget allocations for the Palarong Pambansa, Charter day bonus, and adjustments for the City Council. Patakaran sa Buwis sa Paghuhusga sa Pilipinas . here is how to register at an online casino site in the Philippines:

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Cebu City Mayor Michael Rama wants the fair market value in the revised real property tax (RPT) ordinance to reflect the current rate, despite calls from businessmen to stagger its implementation.“Pass the law, and we can discuss the implementing rules after,” Rama said over Cebu City Hall’s online program “Ingna’ng Mayor” on Thursday, Feb. 29, 2024.As the mayor of the City of Cebu, Rama said he wants it approved.On Tuesday, Feb. 27, Rama urged the City Council to pass the ordinance pertaining to the revised RPT before the end of this month.However, City Councilor Noel Eleuterio Wenceslao, chairman of the committee on budget and finance, said he still needs to meet the other councilors to discuss the matter and reach a consensus.Wenceslao said jumping to final deliberations without having the stance of the majority might simply defer the ordinance.In his point of view as a lawyer, Rama argued that implementing rules may be deferred within reasonable time to allow those affected to adjust their operational and financial management.“But let the fair market value already be back to what it is at the current time,” Rama said.Rama found it unfair that property owners have enjoyed paying taxes based on the value 20 years ago.The RPT Code of Cebu City was last revised in 2002.“Ang yuta bayran na unta (The tax paid on real estate should be) on the present value,” Rama said.He said it is the rich’s corporate social responsibility to share by paying the right amount of taxes.ReactionOn Saturday, Cebu Chamber of Commerce and Industry (CCCI) president Jay Yuvallos said they are proactively working with the mayor, his team and the City Council on this. On the matter of the fair market valuation, he said they hope that it will reflect a truthful and realistic value. “Certainly not based on speculation (bloated), a reflection of a fair value will also protect the land owner,” he said. He said the mayor has also intimated that the implementation will be on a staggered basis. “What is important and the clamor of everyone is that the increase will be gradual so that it becomes affordable. This is subject to a more thorough discussion when we get there,” he said, adding: “We also take cognizance of the fact that they need revenues to finance projects which we also want to see very soon, especially infrastructure projects that can significantly impact the lives of every Cebuano.”Yuvallos said the goal of the chamber is to help its members and the business community in general to expand and grow business. “This will in effect widen the tax base (not only RPT) as a source of revenue for the City. We will work with the City on the ‘Ease of Doing Business’ and helping promote a Business-Friendly Cebu City as what the mayor wanted to espouse,” he said. He said the CCCI will introduce programs that will encourage expansion and investments into the city and promote global competitiveness of the enterprises in Cebu.Proposed ordinanceUnder the proposed ordinance, the formula for deriving the total tax due as explained during the public hearing Friday is getting first the market value of the property. This can be determined by multiplying the land area by the fair market value (FMV).Skyrocketing taxesAfterwards, the market value will be multiplied by the assessment level, which will generate the assessed value. Then, the assessed value will be multiplied by the three percent tax rate. The result is the total tax due.For instance, a 1,493-square-meter commercial property in the Cebu IT Park with a current tax due of P26,874 will have a tax due of P895,800 once the updated tax ordinance gets implemented.Similarly, a portion of Cebu Business Park under the jurisdiction of Barangay Hipodromo will see its FMV shoot up to P245,000 from P16,300 per square meter, significantly affecting the RPT that Ayala Land will have to cough up if the measure is approved.In the proposed RPT ordinance, the market value of properties in some prime locations in Cebu City is expected to increase from 200 to 3,200 percent. Mayor Rama urged the passage of the RPT Code in order to raise funds to realize the objectives of his administration like the Gubat sa Baha (War against Flooding) and other projects like the transitional housing that will house the families affected by the clearing of three-meter easement zones.On Cebu City Hall’s online program “Pagtuki, Pagsusi, Pagsuta” on Wednesday, Feb. 28, City Budget Officer Jerone Castillo said P600 million is intended for the design and construction of 600 transitional housing units for the first phase of the project.The P600 million is one of the items in the first supplemental budget that the executive department has requested the council to approve this year.Other items include budget allocations for the Palarong Pambansa, Charter day bonus, and adjustments for the City Council. licensed online casinos TWENTY-FOUR lot owners in the northern town of Daanbantayan, Cebu have agreed to sell their properties to the Cebu Provincial Government for the construction of a 150-megawatt (MW) solar power plant.But 26 other lot owners are still undecided.In an interview after the signing of a memorandum of agreement (MOA) with the proponent for the building of the plant, at the Capitol building on Saturday, March 16, 2024, Daanbantayan Mayor Sun Shimura told SunStar Cebu that they explained to the lot owners that the project seeks to lower electric bills in the province.Shimura said the Provincial Government is buying the properties for P130 per square meter. He said some owners own more than two lots.IncentivesHe said the governor also assured those who agree to sell that they will be exempted from paying tax, including the capital gains, transfer and documentary stamp tax.And if they want to work in the facility once it opens, they will be prioritized in the hiring, he added.Shimura said there was a plan to transfer the location of the proposed solar power plant to the third district, so the municipality, which is in the fourth district, exerted efforts to convince the lot owners to sell their properties. He said once completed, the facility will spur economic development not only in the town but also in neighboring municipalities and in Bogo City, where an economic zone has been proposed.The mayor admitted that there are a lot of owners who are hesitant to sell, which may prompt them to resort to expropriation proceedings.On Saturday, the Provincial Government signed the MOA with Consortium Acciona Energia Global and Freya Renewables Inc. for a 25-year build-transfer-operate scheme for the project.The Spain-based Acciona Energia Global and Makati-based Freya Renewables Inc. will build the solar power plant, which will be one of the largest renewable energy facilities in the country, on a 185-hectare lot in Barangay Talisay.The MOA signing was led by Gov. Gwendolyn Garcia and Vice Gov. Hilario Davide III, Ignacio Domecq of Acciona Energia Global Ltd. and Fermin Alvarez of Freya Renewables Inc.It was witnessed by Energy Secretary Raphael Lotilla, among others.Acciona Energia Global was also involved in the construction of the Cebu-Cordova Link Expressway, the longest bridge in the Philippines spanning 8.9 kilometers.Secretary’s messageAs of the moment, Shimura told SunStar Cebu, he has no information on the schedule of the civil works, adding that their involvement in the project was in the issuance of permits and talking to lot owners.Secretary Lotilla, in his speech on Saturday, said the MOA advanced the efforts of the Marcos Jr. administration to increase the country’s renewable energy portfolio.He pointed out that Cebu is the center of the transmission grid of the country, connecting the Luzon, Visayas and Mindanao grids.He said the solar power plant in Daanbantayan is a step forward for Cebu to be no longer reliant on power generation facilities from another region in case there are problems in the power cable grid.In her speech, Governor Garcia stressed the importance of the Capitol’s involvement in the energy sector to lower the price of electricity, which was why she signed the MOA with the two energy firms.She said the date of the MOA signing coincided with the arrival of the Spaniards in the archipelago 500 years ago, but his time as investors, not conquerors.The governor added that civil works will take only a year and a half.In a Facebook post on Thursday, March 14, Vice Governor Davide said the Provincial Board authorized Garcia to sign the contract on Monday, March 11.Although there was no mention of the project’s total cost, Solar Philippines president Leandro Leviste said in 2017 that the cost to put up a solar plant was equivalent to US$1 million per MW. (EHP)

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Cebu City Mayor Michael Rama wants the fair market value in the revised real property tax (RPT) ordinance to reflect the current rate, despite calls from businessmen to stagger its implementation.“Pass the law, and we can discuss the implementing rules after,” Rama said over Cebu City Hall’s online program “Ingna’ng Mayor” on Thursday, Feb. 29, 2024.As the mayor of the City of Cebu, Rama said he wants it approved.On Tuesday, Feb. 27, Rama urged the City Council to pass the ordinance pertaining to the revised RPT before the end of this month.However, City Councilor Noel Eleuterio Wenceslao, chairman of the committee on budget and finance, said he still needs to meet the other councilors to discuss the matter and reach a consensus.Wenceslao said jumping to final deliberations without having the stance of the majority might simply defer the ordinance.In his point of view as a lawyer, Rama argued that implementing rules may be deferred within reasonable time to allow those affected to adjust their operational and financial management.“But let the fair market value already be back to what it is at the current time,” Rama said.Rama found it unfair that property owners have enjoyed paying taxes based on the value 20 years ago.The RPT Code of Cebu City was last revised in 2002.“Ang yuta bayran na unta (The tax paid on real estate should be) on the present value,” Rama said.He said it is the rich’s corporate social responsibility to share by paying the right amount of taxes.ReactionOn Saturday, Cebu Chamber of Commerce and Industry (CCCI) president Jay Yuvallos said they are proactively working with the mayor, his team and the City Council on this. On the matter of the fair market valuation, he said they hope that it will reflect a truthful and realistic value. “Certainly not based on speculation (bloated), a reflection of a fair value will also protect the land owner,” he said. He said the mayor has also intimated that the implementation will be on a staggered basis. “What is important and the clamor of everyone is that the increase will be gradual so that it becomes affordable. This is subject to a more thorough discussion when we get there,” he said, adding: “We also take cognizance of the fact that they need revenues to finance projects which we also want to see very soon, especially infrastructure projects that can significantly impact the lives of every Cebuano.”Yuvallos said the goal of the chamber is to help its members and the business community in general to expand and grow business. “This will in effect widen the tax base (not only RPT) as a source of revenue for the City. We will work with the City on the ‘Ease of Doing Business’ and helping promote a Business-Friendly Cebu City as what the mayor wanted to espouse,” he said. He said the CCCI will introduce programs that will encourage expansion and investments into the city and promote global competitiveness of the enterprises in Cebu.Proposed ordinanceUnder the proposed ordinance, the formula for deriving the total tax due as explained during the public hearing Friday is getting first the market value of the property. This can be determined by multiplying the land area by the fair market value (FMV).Skyrocketing taxesAfterwards, the market value will be multiplied by the assessment level, which will generate the assessed value. Then, the assessed value will be multiplied by the three percent tax rate. The result is the total tax due.For instance, a 1,493-square-meter commercial property in the Cebu IT Park with a current tax due of P26,874 will have a tax due of P895,800 once the updated tax ordinance gets implemented.Similarly, a portion of Cebu Business Park under the jurisdiction of Barangay Hipodromo will see its FMV shoot up to P245,000 from P16,300 per square meter, significantly affecting the RPT that Ayala Land will have to cough up if the measure is approved.In the proposed RPT ordinance, the market value of properties in some prime locations in Cebu City is expected to increase from 200 to 3,200 percent. Mayor Rama urged the passage of the RPT Code in order to raise funds to realize the objectives of his administration like the Gubat sa Baha (War against Flooding) and other projects like the transitional housing that will house the families affected by the clearing of three-meter easement zones.On Cebu City Hall’s online program “Pagtuki, Pagsusi, Pagsuta” on Wednesday, Feb. 28, City Budget Officer Jerone Castillo said P600 million is intended for the design and construction of 600 transitional housing units for the first phase of the project.The P600 million is one of the items in the first supplemental budget that the executive department has requested the council to approve this year.Other items include budget allocations for the Palarong Pambansa, Charter day bonus, and adjustments for the City Council. Patakaran sa Buwis sa Paghuhusga sa Pilipinas

Some of the most important trends revolve around the changes to the legalisation of online gambling for offshore operators, with President Rodrigo Duterte cracking down on illegal operations in recent years. Otherwise, we’ve identified that the growth in the land-based gambling industry has resulted in job creation for locals, with more than half of all employees in the entertainment sector being employed for gambling and betting activities.

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