Gov’t owes LGUs P449M in Customs VAT–Teves By Charlie V. Manalo 01/30/2012

Gov’t owes LGUs P449M in Customs VAT–Teves

By Charlie V. Manalo 01/30/2012

Tax wizard and former Negros Oriental Rep. Herminio Teves yesterday bared that the national government owes the country’s local government units over P449 million in internal revenue allotments (IRA) collected by the Bureau of Customs (BoC) but kept out of LGU’s reach since 1989.

Teves, who was chairman of the House committee on ways and means during the 13th Congress, said the unpaid IRA comprised the 40 percent share of LGUs from value added tax collected by the BoC from 1989 to 2009 alone.

The veteran former solon made this revelation as he supported the contention of several incumbent congressmen led by Batangas Rep. Hermilando Mandanas that the value added tax (VAT) collected by the BoC should be considered part of the total collected national taxes to which LGUs have a share under the provisions of the Local Government Code..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/nation/20120130nat1.html