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City collects $9M from the Philippines
The Philippines has agreed to pay $9 million in back taxes and interest to the city for a government-owned building on Fifth Avenue.
Countries are exempt from taxes for diplomatic missions but this building houses a bank, an office for Philippine Airlines and a restaurant. The payment ended an appeal of a lawsuit in which the city was awarded $10.9 million in taxes and interest.
“It is only fair that foreign government owned properties used for non-exempt purposes pay their fair share of property taxes,” Mayor Michael Bloomberg said.
-Jason Fink
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