SC EYES CONTEMPT RAPS VS DOF, BIR
Executive-judiciary clash looms on PEACe bonds
By Benjamin B. Pulta 11/08/2011A confrontation between the Supreme Court and Executive agencies again looms, this time over a restraint order the tribunal issued on the collection of a 20 percent final tax on the P35 billion Poverty Eradication and Alleviation Certificates (PEACe) bonds that was claimed to have been paid out last Oct. 18 as the SC may consider citing both the Department of Finance (DoF) and the Bureau of Internal (BIR) for contempt for collecting the tax despite the temporary restraining order (TRO).
The TRO was issued based on the petition of the Bankers Association of the Philippines (BAP) questioning the collection of the tax after an initial government ruling granting the controversial bonds float exemption from tax payments.
Court Administrator Jose Midas Marquez said the high court may look into why the DoF and BIR did not implement the TRO issued last Oct. 18 and have proceeded to collect the subject 20-percent final withholding tax (FWT) on the bonds that matured then..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/headlines/20111108hed1.html
1 comment
hmmm. bataan nina "pangulong" abs sila dinky soliman ah, tapos hindi raw pinatupad ang tro na binigay ng korte suprema na pumapabor sa kanila. moro.moro n'yo lang yata yan para palabasing ok ang peace bonds ah. naku....
"Court Administrator Jose Midas Marquez said the high court may look into why the DoF and BIR did not implement the TRO issued last Oct. 18 and have proceeded to collect the subject 20-percent final withholding tax (FWT) on the bonds that matured then."
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