STAR among Manila’s top taxpayers

MANILA, Philippines – For the third year in a row, the city government of Manila conferred an award on The Philippine STAR for being one of the city’s top 10 corporate taxpayers for 2015 – a reflection of the paper’s sustained profitability and stability over the years.

PhilStar Daily Inc. president and chief executive officer Miguel Belmonte received the recognition during a ceremony in celebration of Manila’s 445th anniversary Thursday night.

“This award is very prestigious. I don’t think there’s ever been another print media company that won this award in any city, not just in Manila,” Belmonte said.

“Everybody’s claiming to be number one. This award is based on what you paid in taxes, which in turn are based on your earnings and revenues so we don’t even have to make claims anymore,” he added.

Belmonte noted that the award shows the company’s thrust in doing its share to pay correct taxes which are being used for the improvement of the city.

“The STAR has won many journalism awards but it’s not easy to win this top taxpayer award. No other newspaper company can make that claim except us and it’s our third straight year,” he said.

Other top business taxpayers awarded by the Manila city government were the Manila Electric Co. (Meralco), International Container Terminal Services Inc. (ICTSI), SM Prime Holdings Inc., Unilever Philippines Inc., Mercury Drug Corp., Asian Terminals Inc., Maynilad Water Services Inc., Puregold Price Club Inc. and National Book Store.

Meanwhile, Asian Terminals Inc., Unilever Philippines Inc., SM Prime Holdings Inc., Bangko Sentral ng Pilipinas, Home Guaranty Corp., Meralco, ICTSI, Land Bank of the Philippines, Megaworld Corp. and Manila North Harbour Port Inc. were recognized as top real property taxpayers for 2015.

Unpopular move

Manila Mayor Joseph Estrada, who won his second term during the last elections by a slim margin of only 2,600 votes, admitted that his move to increase real property tax rates in the city caused him to lose votes from the business sector but stressed that he had to bite the bullet to save a bankrupt city.

In his speech during the awarding ceremony, Estrada said he had to make an unpopular move just to revive the dying economy of the capital city.

“I know that some of you are hurting and some of you did not vote for me during the last elections. But at that time, there was really a need to increase the tax rates for the betterment of the city,” he said.

“I hope you understand. I’m glad that you pay (your taxes),” he said in jest, drawing cheers from the audience.

Estrada reiterated that when he assumed office in 2013, the city was mired in debt and only had P200 million in its coffers – not even enough to pay the one month salary of city hall workers.

Power supply at city hall was also nearly cut off by Meralco because the city government had P613 million in unpaid electricity bills, he said.

“Did you know that because the city had no funds, my first order of business on July 1, 2013, was to sweep the streets?” Estrada said.

“Even the broomsticks that we used were donated. That was how miserable Manila was when I assumed office,” he said.

But through hard work and cooperation of Manila’s taxpayers, Estrada said the city has risen from the ashes of bankruptcy and corruption.

“Today, we are all witnessing the rebirth of Manila. We could not have done any of this without your cooperation and generous support,” Estrada told the hundreds of property and business owners who attended the event.

“Your taxes have made it possible for the local government of Manila to lay down the financial groundwork for many of its most important projects and programs,” he said. – With Jose Rodel Clapano