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BIR to Congress: NGCP has always complied with 3% franchise tax

Business Mirror LogoBusiness Mirror1d ago

BIR to Congress: NGCP has always complied with 3% franchise tax - Business Mirror

Quick Summary:

AMID a move by lawmakers to review the legislative franchise of the National Grid Corp.of the Philippines (NGCP), the Bureau of Internal Revenue (BIR) on Tuesday assured the public and Congress that the NGCP has consistently complied with its 3- percent franchise tax obligations.

Salceda laid out five proposals to address systemic issues with NGCP’s operations and finances: transparency in costs, national security review, tax structure reform, profit caps, and windfall tax.

Dagooc maintained that NGCP cannot be blamed for this move, saying it acted based on the ERC resolution issued in 2011.“In fairness to NGCP, they acted based on the ERC resolution issued in 2011.

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Article Details

Author / Journalist: Jovee Marie N. de la Cruz

Category: BusinessStartups

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-07 @ 15:16:34 (1 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 771 words

Reading Time: 5 minutes read

Sentences: 29 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 24962008

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Update Frequency: 50 posts per day

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News Last Updated: 8 hours ago

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