MBC hits ‘unstable’ government tax policies
Posted by akosistella on March 10, 2010
MANILA, Philippines – The Makati Business Club MBC has criticized the alleged “instability of government policies and regulations” after the government ordered Pilipinas Shell Petroleum Corp. to pay back taxes.
“We believe the main issue remains to be the instability of government policies and regulations,” read the MBC statement.
“The retroactive application of a ruling imposes a crushing burden on Pilipinas Shell, which had taken on good faith a Bureau of Internal Revenue opinion in settling its previous tax obligations, an opinion upheld by four BIR commissioners from 2003 to 2009.”
Click Philippine Star.