SP oks new Bacolod Tax Code
COURTESY VISIT. Candoni's Little
League Softball champions, the Candoni
Strikers, accompanied by Mayor Cicero
D. Borromeo paid a courtesy visit to
Gov. Isidro P. Zayco in the presence of
First District Board Member Nehemias G.
de la Cruz at the Capitol yesterday. The
team is composed of 22 Grade 4 students
from Central Elementary School and
trained by Eldie Ledesma, Amor Luna de
la Cruz and Renante Ramos.
Bacolod City - Sangguniang Panglungsod (SP) of Bacolod recently approved the New Revenue Code after several months of deliberation and review. Conducted by the SP Committee on Ways and Means, SP Member Diosdado Valenzuela led the move.
SP Member Al Victor Espino Chairman of the Committee on Appropriation and Finance said that he is very optimistic that by the passage of this New Tax Code, the city could earn additional revenues of about P50 million next year. Espino stressed that there is a need for the new tax adjustment considering that the city government did not imposed new tax rate for almost 15 years already.
Only SP Member Wilson Gamboa Jr. manifested his opposition for the passage of this New Revenue Code. Gamboa believed that it is not appropriate to increase our taxes because our country experiencing global economic downturn and crisis. He said that based on investigation, even first world countries at that, try to imposed tax cuts, tax breaks and tax holidays on individuals and other businesses.
Gamboa further said that it is very important to review all the provision which may not need an increase now and those which necessitate an increase. Inspite of the passage of this New Tax Code. Gamboa suggested to strenthen information dissemination, dialogue to business groups regarding the increase.
On the other hand, SP Member Espino is now on the process of conducting a budget hearing for the passage of Annual Budget amounting to P1.1 Billion or a 10 percent increased from the previous 2007 budget. Espino said that through the passage of New Revenue Code, this Executive Budget proposed will easily be attained after a huge tax collection from business sectors.
Among the major priority mentioned by this New budget were health, education and other social services.