The Philippine Stock Exchange (PSE) said it has been assessed for P189.2 million in back taxes by the Bureau of Internal Revenue (BIR) “inclusive of compromise penalty and interests up to September 30 this year.
The PSE said it is challenging the assessment and is working to cancel it through legal action.
The back taxes cover alleged deficiencies since 2017 that include income tax, value-added tax (VAT), expanded withholding tax, among others.
In a press conference in Malacanang yesterday, Finance Secretary Benjamin Diokno defended the action of the Bureau of Internal Revenue (BIR) in assessing PSE, saying the agency was just doing its job.
Diokno said the national government has been putting pressure on both BIR and Bureau of Customs to meet its revenues targets for this year and the programmed revenues for every year until 2028.
The BIR assessment said that PSE was involved in several tax deficiencies in 2017 such as income tax, value-added tax, and expanded withholding tax, among others. – With Jocelyn Montemayor
