THE Quezon City government, the richest among local government units (LGUs) in terms of collection and surplus, will not increase taxes during the fresh three-year term of Mayor Feliciano Belmonte Jr.

City Treasurer Victor B. Endriga told reporters that Belmonte does not see the need to increase taxes even if the real estate and business tax rates of the city are still in the mere “municipality levels.”

This, Endriga said, is because the city has been enjoying surplus years since 2002 due to the efficient collection system that the city government has instituted, thus, negating the need to burden its constituents with upward adjustments in the tax rates.

This year for instance, Endriga said the city’s collection has already reached 63 percent of its full-year goal of P5.283 billion from January to May alone.

“With the pace we are going, we are poised to collect up to P8 billion for this year,” Endriga said.

In 2006, Quezon City’s collection performance, including the P1.7 billion internal revenue allotment (IRA), reached P8.758 billion, way above Makati’s P7.49 billion and Manila’s P7.435.

Endriga said the city is achieving collection rates despite no significant increase in the city’s tax base.

The last time the city hiked its real estate tax was in 1996, while the latest increase in business taxes was in 2002, making them mere municipality rates despite Quezon City being a highly urbanized LGU.

Aside from this, Endriga said the valuation of the lands in Quezon City are too low compared to the other LGUs in Metro Manila.

For instance, the lots on the side of Edsa within Quezon City only have a value of P5,500 square meters, while  those in the jurisdiction of Caloocan City fetch P55,000 per square meter; Manila, P12,000; Makati, P48,000; and Pasay, P25,000.

Endriga said the Quezon City Council will not also pass ordinances that will hike the valuation of the properties in the area.

However, Endriga said there is a pending bill in Congress calling for the creation of a body that will standardize the valuation of lands in the country, and if this is enacted into law, the national government might cause the increase in property valuation in Quezon City.

Meanwhile, Endriga announced that the city will start enforcing today a city ordinance requiring establishments to issue receipts for sales amounting to P100 or higher.

Not included in this scheme are the microenterprises exempted under the law.

Those who will be caught not issuing receipts for the fourth time will be penalized with closure of their establishments, Endriga said.

GOVERNMENT-RUN National Power Corp. (Napocor) said Friday that more than 100 barangays on different islands of the country were given access to electricity by the Napocor-Small Power Utilities Group (SPUG) under its Electrification of 100 Barangays program and part of its mandate to provide electricity to off-grid islands through missionary electrification.

THE amount and quality of the transition supply contract to be attached to the 600-megawatt Masinloc coal power plant will help Aboitiz Power Corp. (APC), the power arm of Aboitiz Equity Ventures, determine whether it will bid for the said power generating asset of the National Power Corp. (Napocor).

THE Japan-Philippines Economic Partnership Agreement (Jpepa) is expected to face stiff opposition once the Philippine Senate starts its deliberations as opponents of the controversial trade pact vowed to launch their campaign against its ratification.

A NONGOVERNMENT organization (NGO) in the fisheries sector has asked the government to channel its support directly to seaweed farmers to make them more competitive against other Asian producers of seaweed.

THE Quezon City government, the richest among local government units (LGUs) in terms of collection and surplus, will not increase taxes during the fresh three-year term of Mayor Feliciano Belmonte Jr.