Liza Reyes, ABS-CBN News, Jan 19 2017
The Supreme Court (SC) has junked with finality the government’s appeal to stop the return of nearly P5 billion in withholding taxes it charged on anti-poverty bonds and pay interest for failure to comply promptly with the court’s earlier ruling.
The high court denied the government’s second motion for reconsideration filed by the Office of the Solicitor General for lack of merit.
It said no further pleadings will be entertained.
In August 2016, the Supreme Court ordered the Bureau of Treasury to pay P4,966,207,796 plus a six percent interest per annum from October 2011.
“It is a strong message that the government should not change rules midway to the prejudice of investors in our country,” said Francis Lim, a lawyer for the banks.
Former President Gloria Arroyo’s administration raised P10.17 billion from the issuance of 10-year Poverty Eradication and Alleviation Certificates (PEACe) bonds in 2001 and sold them at a discount to non-profit group CODE NGO.
The bonds were later resold, mostly to banks and insurance companies.
The bonds attracted investor interest due to representation that it was exempted from the 20 percent final withholding tax.
But the BIR lifted the exemption days before the bonds matured in October 2011.
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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