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Bauang Private Power agrees to settle P1.8-billion taxes

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March 4, 2009 | 12:00am

SAN FERNANDO, La Union, Philippines – Gov. Manuel Ortega disclosed that the management of the Bauang Private Power Corp. (BPPC) finally agreed on Friday to pay unpaid taxes and penalties amounting to P1.866 billion to the provincial government.

Ortega said the BPPC, a sister company of the Lopez-owned Manila Electric Co., will advance P365 million within the next few months, while the remaining amount, plus interest, will be paid quarterly.

The Supreme Court recently resolved with finality its decision denying the BPPC’s petition challenging the assessment made by the Central Board of Assessment Appeals. – Jun Elias

ASSESSMENT

BAUANG PRIVATE POWER CORP

BPPC

CENTRAL BOARD OF ASSESSMENT APPEALS

JUN ELIAS

LA UNION

LOPEZ

MANILA ELECTRIC CO

MANUEL ORTEGA

ORTEGA

SUPREME COURT
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