CAGAYAN DE ORO CITY: Officials of the Philippine Veterans Investment Development Corp. (Phividec) in Misamis Oriental on Monday challenged companies with multi-million tax delinquents to show proof of payments. “If these companies paid their taxes honestly, the issue of tax delinquency would not come to the fore,” he said. He said there are about 80 manufacturing and service companies operating in the 3,500-hectare Phividec ecozone in Misamis Oriental. The two others are the Minda­nao International Container Terminal with more than P342 million tax due, and the Philippine Sinter Corp. with a tax delinquency of over P131 million. Adding the tax delinquencies of some of the 80 companies in the Phividec ecozone, the total amount of tax deficiency could reach P2 billion, Benaldo said.

Source: Manila Times July 17, 2017 13:30 UTC