3 Davao barangays received tax share from hydropower plant

Tuesday 7th of August 2012

DAVAO CITY Aug. 7 -- The host communities of the 4.47-MW Talomo Hydro Plants of Hedcor, Inc. – a subsidiary of AboitizPower - accepted Hedcor’s National Wealth Tax (NWT) of over P 4 million recently.

In an interview, Mintal Barangay chairman Ramon Bargamento II said, “the amount we received from Hedcor will be allotted to repair the Barangay Hall, for barangay’s motor vehicle, furniture, computers and projectors, gymnasium’s industrial fun and for the uniforms of barangay employees.”

On the other hand, Barangay Catalunan Pequeno, Barangay Malagos, and the city received the amounts of almost P600,000, over P300,000 and P2.7 million, respectively.

National Wealth Tax released to host communities is mandated under EPIRA for Hydropower Generation and is accorded to the local government units as a share in the proceeds from the development and utilization of the national wealth within their respective areas.

Hedcor, aside from the NWT, also paid real property taxes, business taxes and registration fee to the Registry of Deeds since the start of its operations.

The company also dispensed millions of peso for the payment of one centavo per kilowatt-hour to host communities as mandated by Energy Regulation 1-94.

In Davao del Sur, Hedcor has been awarded as a top taxpayer by the Bureau of Internal Revenue. On top of these mandated fees, the hydro firm also allocates an annual generation shares to host communities from its 19 hydropower plants of Hedcor in Benguet, Ilocos Sur, and Davao. (Hedcor/PIA XI)