Economy


Malls among Davao’s top taxpayers




Posted on April 03, 2014


DAVAO CITY -- The companies behind the biggest shopping malls in this city are among the top payers of real property tax.

“While Holcim has remained the top taxpayer for years now, there are other companies, including big shopping malls, that are paying their taxes religiously,” said Victor J. Ranada, acting head of the real property tax division of the city treasurer’s office.

Data shows that Holcim Philippines, Inc., previously known here as Davao Union Cement, paid over P30 million in property tax to the city government, as of Dec. 31, 2013. Holcim has a cement plant in the city and operates similar facilities in La Union, Bulacan and Misamis Oriental.

Trailing Holcim is Accendo Commercial Corp., which owns the upscale Abreeza Shopping Mall, in the Bajada district just two kilometers from downtown. Accendo, which paid over P13 million in property tax last year, is a joint venture of the Floirendo-led Anflo Management and Investment Corp. and the Makati-based Ayala Land, Inc.

Next is Halifax Davao Hotel, Inc., which owns the Marco Polo Hotel here and with a tax payment of over P10 million.

SM Prime Holdings, Inc., meanwhile, paid taxes worth over P8 million for its 13.2-hectare SM City Davao in Ecoland district and the 10-hectare SM Lanang Premier, about 7 km away from downtown.

Another shopping mall firm, New City Commercial Corp., also made it to the top taxpayers list at No. 8.

Property tax is a major source of funds for Davao City, especially now that its internal revenue allotment for 2014 has been reduced to P2.899 billion from last year’s P2.912 billion due to the creation of new cities. -- Carmencita A. Carillo