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
September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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