BAGUIO CITY — Mayor Mauricio Domogan led fellow executives in recognizing the top 20 business and real property taxpayers for boosting the local economy and helping instilling discipline in meeting tax obligations.

“We will institutionalize the annual recognition of our top taxpayers so that our constituents will be empowered to religiously pay their tax obligations to the local government so that we will have some funds to utilize in the implementation of our priority development projects and enhancing the delivery of basic services to the grassroots level,” Domogan told Manila Standard, noting that the city was 45 percent dependent on its Internal Revenue Allotment from the national government.

The outstanding taxpayers for 2011 are SM Prime Holdings which paid P4.986 million in business taxes followed by SM Mainstream Business Inc. (Department Store) for P3.99 million and SM Super Value Inc. (grocery) with P1.9 million in taxes paid.

Rounding up the top 10 are Baguio Country Club, P1.561 million; Goldrich Construction, P1.484 million; Coca-Cola Bottlers Inc., P1.374 million; Tokyo Energy and Marubeni (TEAM) Philippines Energy Corp., P1.3 million; San Miguel Corp., P1.2 million; Kintetsu World Express, P1.1 million and Holsim Philippines, P734,802.80.

The top 10 property taxpayers include SM Prime Holdings Inc. based at Luneta Hill, Session Road, Baguio Country Club, JARCO Realty and Development Corp., SM Investment Cor., Strategic Investment and Development Corp., Maharlika Livelihood Center, San An Investment Corp. (Cooyeesan Mall), Catholic Vicariate of the Mountain Provinces (Porta Vaga), Baguio Golden Sun Corp. (Hotel Veniz), Adolfo Realty Corp. (Hotel Elizabeth, and Pacific land and Building Corp.

Domogan said the city collected P13 to 1P15 million when he first served as mayor in 1992.