CEZA is Cagayan’s top corporate taxpayer

BAYOMBONG, Nueva Vizcaya, Philippines – The Cagayan Economic Zone Authority (CEZA) was cited by the Bureau of Internal Revenue (BIR) for being the highest taxpaying corporation in Cagayan province.

Editha Carayugan, assistant revenue district officer, said CEZA’s citation is based on the 2012 tax remittances, performance and contributions of public and private sectors operating or existing in the province.

CEZA, she said, remitted P34,318,684.18 in taxes based on its gross revenue of P310,948,015.66, making it the province’s top taxpaying corporation, and ranked second in the region after PR Savings Bank.

A government-owned-and-controlled corporation, CEZA, created by virtue of Republic Act 7922, is tasked to manage and supervise the development of the Cagayan Special Economic Zone and Freeport. Its management office is based in Santa Ana, Cagayan.

Two of CEZA’s locators or investors at the special economic zone – Superb Kings, Inc. and Novenix Corp. – ranked second and third in BIR’s list of taxpaying corporations in Cagayan and Batanes.

The top three corporate taxpayers were given recognition during BIR’s 109th Founding Anniversary and eighth regional staff conference last Aug. 14 at the Crown Pavilion in Tuguegarao City.

Aside from the amount remitted, the BIR said the basis for the award included timeliness of payment and voluntary gross declaration.

Jose Mari Ponce, CEZA administrator and chief executive officer, said their being on top in the BIR’s list of corporate taxpayers showed that their efforts to ensure inclusive and sustainable growth in the region are now paying off.