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ICTSI, NorthPort Among Manila’s Top Taxpayers

Chennai:

Port Wings News Network:

The City of Manila has recognized global port operator International Container Terminal Services, Inc. (ICTSI) and subsidiary Manila North Harbour Port, Inc. (NorthPort) as among the city’s top business taxpayers for fiscal year 2018.

ICTSI was named the city’s second highest business tax contributor, and sixth top real property taxpayer, while NorthPort landed second as the city’s top real property taxpayer.

Established in 1988 in Manila, ICTSI is now one of the largest companies currently headquartered in the Philippine capital city—operating the Manila International Container Terminal (MICT), the country’s leading international trading gateway and flagship of the ICTSI Group. NorthPort, meanwhile, is the Philippines’ premiere domestic hub linking Metro Manila to the rest of the archipelago.

“We are always mindful not only of our role as a facilitator of economic growth, but also of our social role in our host communities.  Giving back to our host communities what is due them is part of that role, and in so doing, we hope that we are able to help the City of Manila in its social, economic and environmental programs, said Jose Joel M. Sebastian, ICTSI Senior Vice President for Corporate Finance.

Aside from being in the economic frontlines through the facilitation of trade, MICT and NorthPort operations are constantly upgraded and refined to ensure less footprint in its host communities. Taxes paid to the City of Manila, including concession fees paid to the Philippine Ports Authority, spur broad-based, inclusive economic gains for the City of Manila, and the country’s overall port system.

Mr. Sebastian adds: “We shall continue to use our position to create sustainable impact while expanding our business growth.”

The MICT and NorthPort form part of the three major facilities in the Port of Manila, the Philippines’ lead maritime trading gateway.

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