PB halts P211-million quarry settlement over massive 82% discount
The Cebu Provincial Board halted a P211.56-million settlement with Apo Land and Quarry Corp. due to an 82% tax discount, demanding further review.Summary
The Cebu Provincial Board (PB) has suspended a proposed P211.56-million compromise agreement with Apo Land and Quarry Corp. (ALQC) over a substantial 82% discount on originally assessed taxes. The Provincial Government initially assessed ALQC P1,218,630,650.84 in taxes and fees from 2009 to 2025, but the Executive Department negotiated a settlement of just P211,560,530.35. The committee on ways and means flagged the deal for being negotiated without the PB’s prior authorization and while court cases involving ALQC are still pending.
Board members questioned the thoroughness of the review, particularly the absence of ALQC representatives during the committee hearing. The committee report emphasized the PB’s essential role in ensuring settlements involving public funds are legally sound and protect the province’s interests. The decision to halt the deal comes amidst rising political tensions between Governor Pamela Baricuatro and Vice Governor Glenn Anthony Soco, who previously pledged careful review of the settlement’s impact.
The committee now advises the Executive Department to obtain proper authority, conduct a comprehensive reassessment, and seek guidance from the Commission on Audit. The outcome of this dispute will establish a significant precedent for handling large corporate tax collections in Cebu, with billions of pesos originally at stake.
(Source：Sunstar)