THE 20th City Council approved, on May 14, 2024, an ordinance exempting Japanese Official Development Assistance (ODA)-Funded Projects in Davao City from local taxes.
THE 20th City Council approved, on May 14, 2024, an ordinance exempting Japan ese Official Development Assistance -Funded Projects in Davao City from local taxes. Councilor Myrna G. Dalodo-Ortiz, speaking during the council session on Tuesday morning, June 11, 2024, at the Sangguniang Panlungsod, explained that they acceded to a request from the Japan International Cooperation Agency , aligning with an agreement between the Japan ese and Philippine governments.
She highlighted the city's reluctance to accumulate further debt after clearing a P5 billion debt in 2019. Borrowing for infrastructure projects, such as the City Bypass Road at a cost of P13 billion, would incur significant interest expenses, potentially close to a billion pesos over three years.“So P70 million against the P13 billion project cost of the City Bypass Road, and our interest rate if we borrow the P13 billion will end up to the tune of P937.
20Th Davao City Council Davao City Council Tax Exemption ODA Projects ODA Japan Jica Myrna Dalodo-Ortiz
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