Latest Stories

Binay Jr. makes ‘win-win’ offer to Cayetano on BGC


Before he could even take actual control of the land, Makati Mayor Jejomar Erwin Binay Jr. on Thursday expressed willingness to “share” with Taguig City the revenues to be raised from the bustling Bonifacio Global City (BGC), which the Court of Appeals (CA) recently handed back to his city after a 20-year boundary dispute with Taguig.

Binay spoke of a “win-win” arrangement after Taguig City Mayor Lani Cayetano publicly resented hearing him talk about a “smooth transition” that he said could happen in two weeks. Cayetano said it was “irresponsible” for the Makati official to say that since Taguig could still appeal the CA ruling, and reminded businessmen in the BGC that they would still be doing transactions with her city.

In a statement, Binay said he was open to a “revenue-sharing scheme” with Taguig since Makati also wanted to help the people of its neighboring city.

He recalled that Makati had been challenging Taguig’s claim over the area even since 1993, even before it became a booming commercial and residential hub. There were hardly any establishments there back then, he noted.

The Makati mayor said the revenue-sharing scheme is among the possible arrangements in BGC which he and his father—former Makati Mayor and now Vice President Jejomar Binay—had been discussing for a long time.

But he said this setup—unheard of among local governments—may require the creation of a special administrative body and the passage of a special law by Congress.

Earlier, on Wednesday, Binay said that upon Makati’s takeover residents and companies in the areas covered by the CA ruling would enjoy a business tax moratorium for the rest of the year, to avoid any problems with those who had already paid to Taguig in full.

In a TV interview, Cayetano said Binay’s proposal still needed to be studied by her lawyers. She declined to give further comment.

Binay also said that with the jurisdiction of BGC going back to Makati, the city government might lower its current tax rates “because there’s a lot of money to be collected, more than enough.”

Makati recently reported that it had raised some P8 billion in revenues in the first half of the year from companies based in the city, which numbered 62,392 as of end of 2012. The amount was higher by six percent than the collections in the same period last year.

In the wake of the CA ruling, the Taguig City government has yet to release its business data on the BGC, like the total number of establishments and its tax collections in that area per year, despite requests from the media.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: local government , Makati , Philippines - Metro , Property , Taguig , Territorial dispute

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
  1. Estrada: Gigi Reyes won’t testify vs JPE
  2. Gigi Reyes’ only option: tell all
  3. Unease in Vatican over cardinal’s luxury flat—report
  4. Santiago sees Palace hand in Gigi’s return
  5. Malaysia Airlines jet turns back after tire burst
  6. Gigi Reyes back to face charges
  7. Aquino vows to intensify anti-corruption drive further
  8. In the know: Gigi Reyes
  9. Healing priest invites political leaders to join ‘prayer for nation’
  10. ‘Malang’ next crocodile attraction after ‘Lolong’
  1. Kim Henares needs a reprimand, says Cayetano
  2. Suspect in Vhong Navarro mauling tries to leave PH
  3. More legal woes for Cedric Lee
  4. Enrile chief aide back in PH ‘to face charges’
  5. ‘No real progress in PH if dynasties not dismantled’
  6. Henares on Pacquiao bashing: I did not start this
  7. ‘Mom, I love you,’ says text from student on sinking ferry
  8. Massive infra spending set
  9. Fr. Suarez says last Mass on Easter before returning donated land to San Miguel
  10. I’ll follow my conscience on Estrada, says JV Ejercito
  1. KL confirms Malaysian Airlines Flight MH370 ended in Indian Ocean
  2. MRT passengers pass the hat for 6-year-old Ashley
  3. Rookie, lady cops lauded for quick response to MOA heist
  4. Malaysia averts another air tragedy; pilot lands troubled plane safely
  5. Revilla says he was joking; Lacson stands by his story
  6. Revilla ‘consulted’ Lacson on how he evaded arrest
  7. Cudia, dismissed for lying, got 99% in conduct
  8. Police rule out foul play in Helena Belmonte’s death as boyfriend is ‘traumatized’
  9. Kim Henares needs a reprimand, says Cayetano
  10. Hammer-wielding robbers cause chaos at Philippines’ Mall of Asia


  • Initial batch of Etihad passengers tested negative for MERS-CoV
  • Cagayan mayor shot during flag-raising ceremony
  • Malaysia, Flight 370 relatives talk financial help
  • Celebrating Easter and creativity in New York
  • Man wins half marathon, dies in Argentina
  • Sports

  • Reigning champs Miami open playoffs with win
  • Spurs subdue Mavericks in playoff opener
  • Wawrinka beats Federer to win Monte Carlo Masters
  • Ageless Hopkins pitches 50-50 Mayweather deal
  • Goodbye MGM, Las Vegas for Pacquiao?
  • Lifestyle

  • Miss America: Don’t suspend teen over prom invite
  • Transitions and resurrection in the performing arts
  • ‘Archaeology tour’ of Cebu’s heritage of faith
  • Historic Fort Bonifacio tunnel converted into a septic tank
  • ‘Imports’ from London, and play of the year
  • Entertainment

  • ‘Captain America’ stays strong atop US box office
  • Easter musings
  • Solenn in shorts
  • Unmerry mix of attention-calling moves on ‘Mini-Me’ TV tilts
  • Persistence pays off for The 1975
  • Business

  • BDO seen keen on bidding for Cocobank
  • Bataan freeport investment pledges up 1,302%
  • Golden Week
  • Bourse to woo Cebu stock mart investors
  • Supper power
  • Technology

  • Nintendo’s trailblazing Game Boy marks 25th anniversary
  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Opinion

  • Gigi’s home
  • Palace stonewalls on MRT inquiry
  • Couple of things too
  • There is plenty of water behind Wawa Dam
  • Triduum thoughts of a young boy
  • Global Nation

  • Obama on mission to quiet Asia skeptics
  • Search for Etihad passengers launched
  • Japan presents $57-B ‘dream plan’ to solve Metro congestion
  • Tim Tebow’s charity hospital in Davao seen to open in 7 months
  • OFW died of Mers-CoV in Saudi Arabia, says family
  • Marketplace