CDNTopStories The Commission on Audit (COA) has asked the Cebu City government to remit the P43,156,394.00 funds withheld in 2019 due to the Bureau of Internal Revenue, Government Service Insurance System (GSIS), PAG-IBIG Fund, and PhilHealth.
CEBU CITY, Philippines — The Commission on Audit has asked the Cebu City government to remit the P43,156,394.00 funds withheld in 2019 due to the Bureau of Internal Revenue, Government Service Insurance System , PAG-IBIG Fund, and PhilHealth.
“Further analysis of the ledgers of the accounts obtained from the electronic New Government Accounting System also disclosed that out of the ₱43,156,394.00 unremitted balance, ₱15,471,665.94 or 36 percent pertains to taxes and contributions withheld in CY 2019 while the remaining ₱27,684,728.06 or 64 percent pertains to taxes and contributions withheld in prior years,” said COA.20,174,642.
COA reminded the city that the BIR Revenue Regulations No.
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