Filinvest power firm hailed as ‘top taxpayer’ in Misamis Oriental

Published December 17, 2020, 6:30 AM by Myrna M. Velasco
https://mb.com.ph/2020/12/17/filinvest-power-firm-hailed-as-top-taxpayer-in-misamis-oriental/

Gotianun-owned FDC Misamis Power Corporation, a power investment subsidiary of the Filinvest Corporation, had been hailed as ‘top taxpayer’ in Misamis Oriental, the host province of its 405-megawatt coal-fired power plant in Mindanao grid.

The company has been awarded “number one real estate taxpayer” in the province, as assessed and validated in the first three quarters of this year. The recognition was bestowed upon the company on December 14 this year, during an awarding rites held in Cagayan de Oro City.

According to the Gotianun firm, of the more than P224 million aggregate taxes paid, the share that went to the coffers of the Misamis Oriental province had been placed at P51,396,381.30.

“For this year, despite the challenges presented by the coronavirus pandemic on its operations, the firm still diligently paid its obligations – remitting over P224 million in real property taxes paid to PHIVIDEC,” the company noted.

Juan Eugenio L. Roxas, president and chief executive officer of FDC Utilities Inc. (FDCUI), asserted that this is already the third year the company has been awarded as top taxpayer in the province.

“Paying taxes is our duty in the first place because we are doing business in this province. It is not the obligation of the province of Misamis Oriental to recognize us,” he stressed.

Nevertheless, Roxas emphasized the recognition being extended by its host community “inspires us to pay not only the correct taxes, but consistently to pay on time.”

For Misamis Oriental Governor Yevgeny “Bambi” Emano, he noted that the provincial government is appreciative of all taxpayers, even the smaller business owners who have been deeply committed in settling their tax obligations, “notwithstanding the losses brought about by restrictions during the imposition of community quarantine.”

Be that as it may, he primarily cited the Filinvest group and its owners (the Gotianun family) “for their kindness and sustained support to the local government.”

Beyond the tax payments of the energy firm of the Filinvest group, FDC Misamis Power similarly shelled out P29 million to its host community this year as added financial support, based on the prescriptions of Energy Regulations (ER) 1-94 of the Department of Energy.
That policy allocates P0.01 per kilowatt hour share to the host local government unit in the electricity sales of the power firm that is sited or it is hosting in its community.

The company’s power plant at the PHIVIDEC Industrial Estate in Misamis Oriental is also one of the major sources of electricity supply for consumers in the Mindanao grid.