Monday, November 6, 2017

Hacienda Luisita Inc., not paying taxes since 1986?

Chief executive officer and co-founder of Twidl Inc., Eric Clark Su informs the public with a Facebook post about the administration of President Rodrigo Duterte and its plans to collect a total of more than Php. 100 billion of the unpaid taxes from huge corporations that’s been avoiding it for more than three decades. 

The Philippine Airlines was first to settle its Php. 6 billion tax with the Bureau of Internal Revenue (BIR).

BIR officer, Teodoro Pancho also expects another huge corporation, specifically the infamous Hacienda Luisita has avoided a total of Php. 27.3 billion in taxes to pay up. For the hacienda has been avoiding it’s taxes since the time of former President Cory Aquino.

Su then reveals that Hacienda Luisita is sugar plantation found in the province of Tarlac and is owned by the Cojuanco-Aquino family after buying it from the Compañía General de Tabacos de Filipinas. A plantation that spans over various municipalities in Tarlac, including its capital Tarlac City.

He ended his informative post with this piece of reassuring information for our hard working farmers in Hacienda Luisita. 

The division of the stock shares between the incorporators and the farmers is at 70-30 percent, for the hacienda is now under the Comprehensive Agrarian Reform Program’s stock distribution option scheme.

You can read his full Facebook post below.


President Duterte and Lucio Tan

The government of President Rodrigo Duterte is eyeing to collect more than ₱100 billion of unpaid taxes from big corporations that left unpaid for more than three decades, Bureau of Internal Revenue (BIR) officer Teodoro Pancho said on Friday after the Philippine Airline (PAL), settled its ₱6 billion tax arrears.

Pancho said BIR is expected to collect at least ₱27.3 billion this year and the big part of it will be collected from the controversial Hacienda Luisita Inc., which has not been paying taxes since 1986 – the year former President Corazon “Cory” Aquino took over the Malacañang palace. The 6k+ hectare plantation id owned by the Cojuanco-Aquino family.

What is Hacienda Luisita and Who Owns It?

Hacienda Luisita is a sugar plantation located in the province of Tarlac, Philippines, that was bought by the Cojuangco family from the Compañía General de Tabacos de Filipinas.

 Las Haciendas de Luisita subdivision in Tarlac. Photo from Inquirer

The hacienda spans various municipalities in the province, including the capital Tarlac City. The estate’s incorporators, who control 70 percent of Hacienda Luisita’s stock shares, are Pedro Cojuangco, the children of Josephine C. Reyes, Teresita C. Lopa’s heirs, José Cojuangco, Jr., and María Paz C. Teopaco, all siblings of the late former President Corazón C. Aquino who, on the day she became President of the Philippines, bequeathed her shares to her children and the Daughters of Charity and other non-profit organizations for fear that it would be used as political propaganda.

The remaining 30 percent of the stock shares was given to farm workers under the Comprehensive Agrarian Reform Program’s stock distribution option scheme.”

Source: Facebook / Eric Clark Su
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