About P319-million worth of tax perks for a Bulacan-based textile company have been withheld by the Department of Finance (DoF) because of the alleged “irregular” tax credit certificates (TCCs) issued during the past administrations.
In a statement on Monday, the DoF’s One-Stop Inter-agency Tax Credit and Duty Drawback Center (OSS) informed the Department of Labor and Employment (DoLE) of its the decision to put on hold the request of the Indo Phil Group of Companies (IPGC) pending the final results of the Commission of Audit (CoA) special audit on TCCs issued from 2008 to 2014.
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