West Zone water concessionaire Maynilad was proclaimed once again by the Quezon City government as one of the City’s outstanding taxpayers for the fiscal year of 2008.
Maynilad was among the over 40 companies honored during the “QC Salutes Top Taxpayers” recognition rites last December 4, 2009 at Crowne Plaza Hotel in Quezon City. The event is one of the highlights of the month-long 70th anniversary celebration of Quezon City.
Maynilad has earned the distinction as a Top Taxpayer in Business Category for two consecutive years since Metro Pacific Investments Corp. and DMCI Holdings, Inc. took over the company in 2007. The back-to-back award stresses the company’s corporate responsibility as a water provider and partner of the government in economic and community development.
Maynilad and the rest of this year’s top taxpayers were chosen from 60,000 business establishments and 400,000 real property taxpayers in Quezon City. The awardees were judged based on their transparency and promptness in meeting tax compliance requirements.
In a 2009 report by Standard & Poor’s, Quezon City bested the country’s local government units in terms of financial management. This is attributed to the city’s sustained collection efficiency and high 2008 revenue of P8.36 million, which is 11.56% more than their 2007 revenue.
Other companies that made the list of model taxpayers include leaders in various industries such as PLDT, Meralco, Nestle, McDonald’s, Robinsons, Coca-cola, ABS-CBN, GMA 7, Metrobank, Banco de Oro, BPI, Rustan’s, San Miguel, Mercury Drug and National Bookstore.
Maynilad provides water to around 7 million customers in the western region of Greater Manila Area. Maynilad’s Head Office is located in Balara, Quezon City.
Photo caption: Quezon City Vice-Mayor Herbert Bautista and Mayor Feliciano Belmonte hand the QC Top Taxpayer Award (Business Category) to Maynilad Chief Financial Officer Randolph Estrellado. Also in photo is Victor Endriga, Quezon City Treasurer.