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Manila Bulletin devider Business devider The Stock Market devider Alcantaras lauded as top taxpayer in Sarangani

Alcantaras lauded as top taxpayer in Sarangani

Published Dec 15, 2023 09:32 am

The Alcantara family-owned Alsons Consolidated Resources was cited by the local government of Maasim, Sarangani for its significant contribution in the economic progress and empowering communities in the municipality.

The Alcantara group owns Sarangani Energy Corporation which remitted over P61.4 million in local income tax contributions to the Local Government of Maasim, making it one of the top business taxpayers of the town. 

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This tax contribution can be allocated to various priority programs and initiatives of the local government.

“… (especially in the post-COVID period), Sarangani Energy has been a big boost to the revenue collections of LGU-Maasim, allowing our local government to provide improved services and better development projects,” Mayor Zyrex Pacquiao said.

The LGU presented a plaque of recognition to Sarangani Energy, acknowledging the power generation firm’s exemplary tax compliance and commitment to responsible tax payment.  

Located in the Kamanga Agro-Industrial Economic Zone in Maasim, the 210-megawatt Sarangani Energy Baseload Power Plant is the single largest power investment in the Province of Sarangani and the entire Region 12 at $570 million. 

It is currently providing power to more than four million residents in the provinces of Sarangani, South Cotabato, Cotabato, Compostela Valley, Misamis Oriental, Davao del Sur, Zamboanga del Norte, Zamboanga del Sur Agusan del Norte, and Agusan del Sur; as well as in the cities of General Santos, Iligan, Bayugan, Butuan, Samal, Tagum, Cagayan de Oro, Dapitan, Digos, Dipolog, Koronadal, Kidapawan, and Pagadian. 

Following the provisions of Section 24 of Republic Act No. 7916, as amended, Sarangani Energy, located within an ecozone, is required to pay a special income tax of five percent on its gross income. 

Out of this amount, three percent is allocated to the national government, while the remaining two percent is remitted to the Treasurer's Office of its host municipality. 

“At Alsons, we are steadfast in our commitment to contributing to nation-building and stimulating economic growth in the regions we serve. We will continue to 'power with care' by supporting our host LGUs in fostering a conducive business climate, enhancing the quality of life for the community, and nurturing our environment,” Jose Luis R. Angco, Alsons Power Group’s Vice President and Business Manager for Plant Operations, shared. 
 

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