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Filinvest’s FDC Misamis is MisOr’s top real estate taxpayer

Filinvest’s power firm FDC Misamis Power Corporation (FDC Misamis) was hailed and honored anew by the Province of Misamis Oriental as its number one real estate taxpayer for the first three quarters of 2020 in an awarding ceremony held at the Capitol Grounds in Cagayan de Oro City on Monday, December 14, 2020.

The company has been MisOr’s top taxpayer since 2017. For this year, despite the challenges presented by the coronavirus pandemic on its operations, the power firm still diligently paid its obligations remitting over Php 224 million in real property taxes to PHIVIDEC. Of the estimated total taxes paid, Php 51,396,381.30 went to the Province of Misamis Oriental.

Juan Eugenio L. Roxas, the firm’s President, and Chief Executive Officer expressed gratitude to the Provincial Government.

“This is the third year that we have been awarded as the number one taxpayer of the Province, and we are very honored to receive this award.  Paying taxes is our duty in the first place because we are doing business in this Province. It is not the obligation of the Province of Misamis Oriental to recognize us.”

“Such inspires us to pay not only the correct taxes but consistently to pay on time,” said Roxas.

Local officials noted that the taxes collected will fund multiple development programs beneficial to the Province’s citizens, like improving its education system amidst the new normal.

Governor Yevgeny “Bambi” Emano appreciates all taxpayers, even those small business owners, for their commitment to pay their dues, notwithstanding the losses brought about by restrictions during the imposition of community quarantine. However, Emano cited Filinvest and the Gotianun family for their kindness and sustained support to the local government.

Apart from the RPT, the power firm also remitted more than Php 29 million to its host communities under the Energy Regulations (ER) 1-94 Program of the Department of Energy (DOE).

ER 1-94 allows a community hosting an energy generating facility to have access to a financial benefit of one-centavo per kilowatt-hour (P0.01/kWh) of the total electricity sales. Proceeds are allocated to fund various development projects, including anti-COVID-19 initiatives.

As the country combats the coronavirus, the funds released by the power firm were instrumental in ensuring its neighboring communities’ health and safety.

FDC Misamis, a wholly-owned subsidiary of FDC Utilities, Inc., the utilities and infrastructure arm of the Filinvest Development Corporation, operates a 3x135MW circulating fluidized bed coal thermal plant at the PHIVIDEC Industrial Estate in Villanueva town.

The facility was inaugurated by President Rodrigo Duterte and has been vital in the Mindanao grid’s stability since its commercial operations in 2016.

FDC Misamis commits to remain true to its advocacy of developing sustainable communities while providing reliable, cost-effective electricity the region needs to reignite its economy.

“We will not stop by just settling our regulatory obligations; we will continue to be responsible citizens and help in whatever way we can. As they say, charity begins at home,” Roxas concluded.

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