Senate to okay Clark bills: official
CLARK ECOZONE -- Clark stakeholders expressed elation over the assurance made by some senators that the Senate would approve Clark bills before the end of the year to restore duty free privileges, including tax amnesty for locators inside Clark Special Economic Zone (CSEZ).
During the budget hearing of the Bases Conversion and Development Authority (BCDA) under the Senate finance committee chaired by Senator Franklin Drilon, Senator Sergio Osmeña III said that Senate Bills (SBs) 2259 and 2260 have been scheduled for deliberations and could be passed before the year ends.
"We join locators and other Clark stakeholders in expressing gratitude to our legislators, especially the members of the Senate, as they expedite deliberations on tax perks. We are happy that the Senate has responded positively as we continue to honor government commitments to foreign and local investors," said Clark Development Corporation (CDC) president Levy Laus.
Laus has been leading an unprecedented lobby work at the Senate, including "door-to-door" meetings with the senators. He and other CDC officials were present during the hearing on BCDA's proposed budget for 2007.
During the meeting, Osmeña assured that the pending bills will be immediately deliberated upon on Senate floors as he noted that the legislative remedy on tax and duty free would also improve BCDA's financial standing.
Other BCDA subsidiaries that were present during the hearing included CDC and other management arms for Poro Point Economic Zone, John Hay Economic Zone, and Bataan Economic Zone, who are all affected by the Supreme Court (SC) decision scrapping the tax perks and duty free privileges due to the lack of expressed provision in Republic Act (RA) 7227 (also known as Bases Conversion Act) on the ecozones.
The SC has voided the granting of duty free privileges and tax incentives to locators and investors based on Section 5 of Executive Order (EO) 80 as well as Section 4 of the BCDA Board Resolution No. 93-05-032, which had allowed CSEZ to grant the same privileges available at the Subic Bay Freeport Economic Zone (SBFEZ).
The ruling puts in grave peril the standing of CSEZ as a major investment and employment center, around which the economy of Central Luzon is anchored. CDC executive vice president Philip JB Panlilio said the approval of Osmeña is crucial to CDC because this will lessen the apprehensions of majority of investors in Clark.
Panlilio said the Osmeña has included some amendments in RA 7227 that will protect the development of Clark airport complex as the lawmaker from Cebu has even considered the Diosdado Macapagal International Airport (DMIA) as the "primary gateway in the future."
He said the senator would like the 2,500-airport area in Clark not to be compromised so as not to incur the same fate of the Ninoy Aquino International Airport (Naia) and Mactan International Airport (MIA) in Cebu, which are no longer expandable due to limited land area and unforeseen development near the country's two premier airports.
Earlier, Laus, with some Clark stakeholders and Mayors Carmelo Lazatin of Angeles City, Marino Morales of Mabalacat town and Oscar Rodriguez of the City of San Fernando, and Clark Investors and Locators Association (Cila) president Francisco Villanueva Jr., led meetings with some senators in getting SBs 2259 and 2260 approved.
Laus, assisted by Senator Manuel "Lito" Lapid, led a "door-to-door" meeting where the lobby group urged some of the senators to pass legislative measures on Clark tax and duty free incentives. They discussed the predicament of the investors and the threat of eventual pullout from Clark.
SB 2260 calls for amendments in RA 7227 or the Bases Conversion and Development Act of 1992, particularly Section 12 which provides tax and duty free privileges only to Subic Freeport; while SB 2259 calls for the declaration of a one-time amnesty on taxes and duties, including fines, penalties and interests incurred by locators inside special economic zones and freeports.
Once the amendments in RA 7227 passed, it will cure once and for all the infirmities of the law by providing the same fiscal and non-fiscal incentives, under RA 7916 or the Special Economic Zone Act of 1995 to duly- registered business enterprises located at the Clark, John Hay, Morong and Poro Point Special Economic Zones. By Dante M. Fabian - SunStar
During the budget hearing of the Bases Conversion and Development Authority (BCDA) under the Senate finance committee chaired by Senator Franklin Drilon, Senator Sergio Osmeña III said that Senate Bills (SBs) 2259 and 2260 have been scheduled for deliberations and could be passed before the year ends.
"We join locators and other Clark stakeholders in expressing gratitude to our legislators, especially the members of the Senate, as they expedite deliberations on tax perks. We are happy that the Senate has responded positively as we continue to honor government commitments to foreign and local investors," said Clark Development Corporation (CDC) president Levy Laus.
Laus has been leading an unprecedented lobby work at the Senate, including "door-to-door" meetings with the senators. He and other CDC officials were present during the hearing on BCDA's proposed budget for 2007.
During the meeting, Osmeña assured that the pending bills will be immediately deliberated upon on Senate floors as he noted that the legislative remedy on tax and duty free would also improve BCDA's financial standing.
Other BCDA subsidiaries that were present during the hearing included CDC and other management arms for Poro Point Economic Zone, John Hay Economic Zone, and Bataan Economic Zone, who are all affected by the Supreme Court (SC) decision scrapping the tax perks and duty free privileges due to the lack of expressed provision in Republic Act (RA) 7227 (also known as Bases Conversion Act) on the ecozones.
The SC has voided the granting of duty free privileges and tax incentives to locators and investors based on Section 5 of Executive Order (EO) 80 as well as Section 4 of the BCDA Board Resolution No. 93-05-032, which had allowed CSEZ to grant the same privileges available at the Subic Bay Freeport Economic Zone (SBFEZ).
The ruling puts in grave peril the standing of CSEZ as a major investment and employment center, around which the economy of Central Luzon is anchored. CDC executive vice president Philip JB Panlilio said the approval of Osmeña is crucial to CDC because this will lessen the apprehensions of majority of investors in Clark.
Panlilio said the Osmeña has included some amendments in RA 7227 that will protect the development of Clark airport complex as the lawmaker from Cebu has even considered the Diosdado Macapagal International Airport (DMIA) as the "primary gateway in the future."
He said the senator would like the 2,500-airport area in Clark not to be compromised so as not to incur the same fate of the Ninoy Aquino International Airport (Naia) and Mactan International Airport (MIA) in Cebu, which are no longer expandable due to limited land area and unforeseen development near the country's two premier airports.
Earlier, Laus, with some Clark stakeholders and Mayors Carmelo Lazatin of Angeles City, Marino Morales of Mabalacat town and Oscar Rodriguez of the City of San Fernando, and Clark Investors and Locators Association (Cila) president Francisco Villanueva Jr., led meetings with some senators in getting SBs 2259 and 2260 approved.
Laus, assisted by Senator Manuel "Lito" Lapid, led a "door-to-door" meeting where the lobby group urged some of the senators to pass legislative measures on Clark tax and duty free incentives. They discussed the predicament of the investors and the threat of eventual pullout from Clark.
SB 2260 calls for amendments in RA 7227 or the Bases Conversion and Development Act of 1992, particularly Section 12 which provides tax and duty free privileges only to Subic Freeport; while SB 2259 calls for the declaration of a one-time amnesty on taxes and duties, including fines, penalties and interests incurred by locators inside special economic zones and freeports.
Once the amendments in RA 7227 passed, it will cure once and for all the infirmities of the law by providing the same fiscal and non-fiscal incentives, under RA 7916 or the Special Economic Zone Act of 1995 to duly- registered business enterprises located at the Clark, John Hay, Morong and Poro Point Special Economic Zones. By Dante M. Fabian - SunStar
posted by OlongapoCity Zambales at
6:56 AM
0 Comments:
Post a Comment
<< Home