Rama: No tax credit for SM malls

CEBU, Philippines -  The SM Supermalls has offered to build a commercial road network at the vicinity of its SM Seaside Complex at the South Road Properties provided that the Cebu City government would grant them tax credit.

Sherry Tuvilla, SM Supermalls regional operations manager, made the offer in response to the request from the City Council.

She said the company is willing "to fund for the commercial road at SRP particularly along SM Seaside Complex through tax advance that will be credited to their future tax dues."

However, the proposal did not sit well on Mayor Michael Rama.

The mayor said it is not possible to grant tax credit to businessmen. He said that the beautification and enhancement of the areas within its vicinity should be part of businessmen's corporate responsibility.

"No tax credits. Tax credit should not be encouraged. Improving their surroundings should be part of their corporate social responsibility," Rama said.

The city government has been encouraging business establishments to observe corporate social responsibility.

Rama reiterated that taxes should be shared and benefited by all, including those in the poverty line, and not just by businessmen.

"Taxes are supposed to be put as one. If you grant tax advance, one would only benefit. How about other businessman that is entitled also of tax credit?" Rama asked.

"Kay kun gusto sila motabang, not in the form of tax credit. Lisod man gud na, what if sa mga lugar na atong i-develop nga wala'y businessmen, so where would we get the money to develop the area?" he added. (FREEMAN)