Philippine Standard Time:
Your browser is not supported for the Live Clock Timer, please visit the Support Center for support.
  • Home
  • News
  • Ceza reports higher 9-month earnings, tax payments

Ceza reports higher 9-month earnings, tax payments

By: Roy Stephen C. Canivel – @inquirerdotnet
Philippine Daily Inquirer

The Cagayan Economic Zone Authority (Ceza) paid P83.316 million in taxes to the Bureau of Internal Revenue (BIR) in the first nine months this year, recovering its deficit last year.

In a statement on Friday, Ceza administrator and CEO Raul Lambino said this was a turnaround from last year, when it incurred a net loss of P64.925 million after losing its revenue from online gaming.

This comes as Ceza works on attracting firms engaged in blockchain technology, driving revenue to more than P500 million in the first three quarters this year.

The nine-month revenue exceeded the full year gain last year of P224.548 million.

Lambino, however, said Ceza would not rely on companies engaged in financial technology (fintech) alone, as it also moves to attract other industries to set up shop in the economic zone.

“Growth in the economic zone will be investment-driven. Ceza will diversify,” he said.

Lambino earlier said Chinese firm Shanghai Juncheng was building a $100-million integrated leisure resort in the economic zone.

https://business.inquirer.net/261034/ceza-reports-higher-9-month-earnings-tax-payments

 

VISITOR COUNTER

184050
Users Today : 462
Users Yesterday : 547
This Month : 12149
This Year : 28165
Total Users : 184050
Views Today : 3699
Total views : 1745861

REPUBLIC OF THE PHILIPPINES

All content is in the public domain unless otherwise stated.

ABOUT GOVPH

Learn more about the Philippine government, its structure, how government works and the people behind it.