Mandaue City officials, traders seek to defer zonal valuation of properties

The Mandaue City Chamber of Commerce and Industry supported the request of the city government to defer the approval of the zonal valuation of real properties in the city.

In his two-page letter to Department of Finance Secretary Margarito Teves, MCCI president Eric Ng Mendoza said that the Bureau of Internal Revenue's proposed zonal valuation is unrealistically high and inequitable.

Mendoza asked Teves to consider their recommendations, which they believed important in making decisions on the matter.

These recommendations include: retain the zonal valuation under the second revision, conduct another public hearing for the zonal valuation, publish proposed valuation so the public may know, provide materials or primers to the public, and conduct regular public information drive to in order to avoid miscommunication.

Mendoza said that as a business organization, MCCI has a primary duty to represent the needs and concerns of its member-companies in order to attain an environment that is conducive for business. - Mitchelle P. Calipayan