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PIA Press Release

BIR wants SNAP to pay taxes in Ifugao

by Vency D. Bulayungan

LAGAWE, Ifugao (23 April) -- The Bureau of Internal Revenue (BIR) is working hard for the registration and payment of taxes here by the Statkraf Norfund Power Investment and Aboitiz Power, Inc. (SNAP), the winning bidder of the Magat Hydroelectric Power Plant.

Atty. Elena Rillera, Revenue District Officer (RDO) here said that she tried her best to convince SNAP officials to register and pay their taxes here.

She informed that on April 25, 2007, the SNAP, Inc, shall pay the 40% of $530 million down payment as stipulated in the Asset Purchase Agreement with PSALM, and simultaneously, the operations of the power plant shall be turned over to it.

According to her, the estimated collection is P400 million. "This is a potential collection falling within the category of what we call "big ticket," she said.

Rillera, however admitted that this task is not easy because of the boundary dispute between Isabela and Fugato. Isabela is also claiming that the Magat dam is located within its territory.

She disclosed that the claim of Isabela is supported by an application for Special Patent while Ifugao holds the Transfer Certificate of Title, TCT No. T-4262.

According to SNAP, if an advice will be issued by the Commissioner of Internal Revenue confirming their registration and payment of taxes here, then they shall comply, Rillera informed.

The Magat Power Plant is has its address at Ramon, Isabela since it started operations under the management of National Power Corporation (NAPOCOR). However, the land and the power plant are located and registered in Barangay Santo Domingo in the municipality of Alfonso Lista here.

"If our claim for SNAP to the pay their taxes here will be granted then it will be an advantage for the province because the provincial government can request for an increase in the Internal Revenue Allotment (IRA) from the national government. This means development for the province will follow," Rillera said. (PIA-Ifugao) [top]

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