CitySavings recognized as LTD – Cebu’s Top Contributor for 2016
CitySavings President and CEO Catalino Abacan (right) receives the plaque of recognition from the Bureau of Internal Revenue (BIR) Large Taxpayers Division (LTD) – Cebu during the bureau's 15th anniversary celebration and 2017 tax campaign launch last March 09 at the Grand Convention Center of Cebu.
During its 2017 tax campaign launching last March 09 with the theme "Ako, Kaisa sa Pagbabago", the Bureau of Internal Revenue (BIR) Large Taxpayers Division (LTD) – Cebu recognized City Savings Bank (CitySavings) as the top contributor for calendar year 2016 at the Grand Convention Center of Cebu.
The Bank was the sole awardee and was recognized for its support and contribution to the Philippines' economic development efforts and for being instrumental in uplifting the collection performance of the Large Taxpayers Service (LTS).
"Ito ay isang patunay na ang City Savings Bank ay patuloy ninyong kaagapay sa inyong simulain para sa kaunlaran ng Cebu at ng ating bansa (This is a testament that City Savings Bank will continue to support your mission for the progress of Cebu and our country)" shared President and CEO Catalino Abacan . He ended his speech with a quote from St. Theresa of Calcutta's "Final Analysis" which calls to action the Filipino people to be a differentiator and to be an instrument of change. This is the fourth consecutive year that the Bank has garnered this accolade.
This year's recognition also coincided with the 15th anniversary of LTD – Cebu and was attended by over 200 large taxpayers and BIR officials. LTD – Cebu Chief Ma. Socorro Lozano urged everyone "to do different things and do things differently" in support to the present administration's efforts for change and reform. "As our major partners for change, we therefore call on you for your continued support and cooperation with us by paying the correct taxes", she emphasized. Chief Lozano also welcomed 90 new members of the LTD – Cebu from the Visayas area but bid farewell to 34 companies which joined the newly formed LTD – Davao.
The pledge for commitment and ceremonial toast was led by Aboitiz Equity Ventures (AEV) Chief Finance Officer Dmi Lozano.
In 2016, 62.44% of the PHP 1.576 trillion taxes collected came from the LTS collection said Assistant Commissioner of Internal Revenue (ACIR) Teresita M. Angeles.