RESOLUTION NO. 2022-0122 (Co - Sponsors: Committee on Ways and Means; Committee on Finance and Appropriations; and Committee on Laws, Rules and Policy Formulation) "A RESOLUTION AUTHORIZING HONORABLE CITY MAYOR SAMUEL S. CO AND/OR THE CITY TREASURER, MS. NONA GRACE E. DURAN, TO INITIATE THE REGISTRATION OF THE CITY GOVERNMENT OF PAGADIAN WITH THE BUREAU OF INTERNAL REVENUE (BIR) FOR THE PURPOSE OF MAINTAINING AND/OR ASSIGNING AN ACCOUNT TO BE USED EXCLUSIVELY FOR THE PAYMENT OF THE TWELVE PERCENT (12%) VALUE-ADDED TAX (VAT) OUT OF THE INCOME DERIVED FROM THE RENTAL OF STALLS AT THE CITY COMMERCIAL CENTER (C3)" WHEREAS, with the operation of the City Commercial Center (C3), the City Government of Pagadian-being the owner-lessor-has engaged into proprietary function and non-essential government transaction where income is derived out of the lease/rental of stalls within the C3 and--such income is subject to the Twelve Percent (12%) Value-Added Tax (VAT) pursuant to Section 105 of the National Internal Revenue Code (NIRC) of 1997; WHEREAS, given the foregoing mandate, it is therefore necessary for the City Government of Pagadian to register with the Bureau of Internal Revenue (BIR) as the owner-lessor of some stalls within the City Commercial Center (C3) for the purpose of maintaining an account intended for the payment of the Twelve Percent (12%) Value-Added Tax (VAT) out of the income derived from the rentals of stalls thereat, hence, authorizing the Honorable City Mayor and/or the City Treasurer for purposes is most appropriate and in order; NOW, THEREFORE, on seconded motion of Honorable Priscilla M. Fernandez, be it RESOLVED to authorize, as this body hereby authorizes Honorable City Mayor Samuel S. Co and/or the City Treasurer, Ms. Nona Grace E. Duran, to initiate the registration of the City Government of Pagadian with the Bureau of Internal Revenue (BIR) for the purpose of maintaining and/or assigning an account to be used exclusively for the payment of the Twelve Percent (12%) Value-Added Tax (VAT) out of the income derived from the rental of stalls at the City Commercial Center (C3). RESOLVED, FURTHER, to let copies of this Resolution be forwarded to His Honor, City Mayor Samuel S. Co; and the City Treasurer, Ms. Nona Grace E. Duran, both of this city, for their information and favorable consideration. APPROVED UNANIMOUSLY. I HEREBY CERTIFY to the correctness of the foregoing resolution. BALDOMERO FERNANDEZ City Vice Mayor/Presiding Officer Verified: JESUS B. BAJAMUNDE, JR. SP Member/Floor Leader Attested: ELKID P. NACUA Secretary to the Sangguniang Panlungsod