Aquino to Fil-Chinese businessmen: Pay correct taxes
President Benigno Aquino III FILE PHOTO
MANILA, Philippines—President Benigno Aquino on Wednesday reminded Filipino-Chinese businessmen to fulfill their obligations such as paying taxes “on time and by the book.”
At the oath-taking of new officers of the Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII), the President praised the group for their philanthropy but pressed them to set the “good example” by fulfilling their civic duties to the government.
“As you continue to reap benefits from our economic revival, I hope that you will also be more willing to share the fruits of your hard work—not only through your philanthropic activities, but also by setting the good example as citizens who fulfill their obligations on time and by the book,” the President said.
Aquino aired the hope that as the FFCCCII continued to “give generously,” it would take to heart “the civic duties and responsibilities of every Filipino.”
“This is what will allow our already-strong partnership to flourish in the years to come,” he told some 200 members of the federation at Malacañang’s Rizal Hall.
While he did not spell it out, Aquino was obviously referring to Filipino-Chinese businessmen’s duty to pay taxes.
In March, Aquino chided the same group for not paying taxes, noting that 424 of its 552 members had tax identification numbers but only 185 filed income tax returns. And of those who filed income tax returns, at least 14 filed returns with zero tax due.
Aquino also noted that only 54 of their 207-member organizations filed tax returns, and 38 of these filed returns with zero tax due.
In his speech, FFCCCII president Dr. Alfonso Siy said they had been fully cooperating with the Department of Finance and Bureau of Internal Revenue in their tax collection.
“We disseminate tax information and encourage the public to pay proper taxes,” Siy said.
The federation vowed to help sustain the robust 7.8 percent growth posted by the domestic economy in the first quarter by promoting investments and tourism abroad, and intensifying its job-generation campaign “Buy Pinoy, Save Jobs.”
“Under the leadership of our beloved President, the Philippine economy has been on an upswing. And we want to help sustain this growth,” Siy said.
The President praised the FFCCCII for pledging funds for 400 classrooms under its program “Operation: Barrio Schools” dating back to the 1960s.
“To me, this symbolizes your pledge to the government and, more importantly, to the Filipino people—not only to contribute to economic growth through your businesses, but also to help empower our countrymen by investing in their future,” he said.
The federation has been credited with building more than 9,000 classrooms since 1961, opening doors of learning to many Filipino students.
On Wednesday the FFCCCII pledged P80 million for the construction of 400 classrooms or 200 schoolbuildings.
When it marks its 60th anniversary next year, the federation plans to grant four-year scholarships to 60 high school graduates pursuing a degree in Education.
“On top of building classrooms and sending children to school, I know that you are also supporting volunteer fire brigades; donating to disaster relief and rehabilitation efforts; and fostering healthy minds in healthy bodies by means of your medical and dental missions,” Aquino said.
Aquino said the government, for its part, would do its best to create an environment “more conducive to business’’ after getting an investment from three credit rating agencies.
“Our economy grew by a remarkable 7.8 percent in the first quarter of 2013. Add to this countless other indicators of economic growth, and you have a situation where even greater prosperity is within reach,’’ he said.
“And even as we invest in infrastructure and institute reforms that level the playing field, we continue to channel the hard-earned money of our taxpayers into health, education, social services, and other initiatives to empower our countrymen—making them true, productive contributors to the continuing cycle of opportunity and progress,” he added.
