THE Cebu City Government will grant the Moment of Truth boxing spectacle, slated on Feb. 24 at the Cebu City Sports Center, full exemption from amusement tax.
The resolution authored by Councilor Sylvan “Jack” Jakosalem was approved yesterday during the regular session of the city council, waiving the standard 30 percent tax the city requires from organizers.
“The city could have earned millions, but we gave it up in support to the promoters who worked hard to bring this event to Cebu,” said Jakosalem, who heads the council’s committee on sports and Professional gaming.
Jakosalem said the city will be reaping non-monetary rewards from the event.
“It is worth it. We will have the prestige of having a world boxing title fight here and we will be known the world over,” Jakosalem said.
The Moment of Truth is a joint promotion of the Cebu-based SGG Sports Promotion and the US-based Golden Boy Promotions and will feature the super-flyweight championship fight sanctioned by the World Boxing Organization.
SSG’s Sammy Gelo-ani said he is thankful his request for an exemption was granted and he assured the City it will still benefit a lot from this event.
“This will make Cebu a landmark for boxing,” Gelo-ani said. He said the City will still be earning from the global event, which will help boost the city’s tourism.
Gelo-ani added that a lot of foreign boxing aficionados will be arriving starting Feb. 20.
“This is good for Cebu’s tourism. These foreigners will be spending in hotels and restaurants so basically, these will all go back to the city,” Gelo-ani said.
The event features Cebuano Z “The Dream” Gorres, as he puts up a challenge against Mexican champion Fernando “Chucolito” Montiel, in the main bout.
Boholano boxing sensation Rey “Boom-Boom” Bautista, the WBO top-ranked contender, will be battling Colombian WBC Latino champion Feider Viloria for the vacant WBO Inter-Continental and WBO youth super bantamweight titles, in the main undercard.
The other undercard bout pits AJ “Bazooka” Banal against the former Pan-Asian Boxing Association super-flyweight champion Komrith Evereadygym. (MCB)
