The Bureau of Internal Revenue (BIR) confirmed that the National Grid Corporation of the Philippines (NGCP) has been consistently paying its mandated 3-percent franchise tax. Lawmakers, however, are calling for a refund mechanism for what they believe to be P204.3 billion in excess revenues collected by NGCP. The Energy Regulatory Commission (ERC) is also under scrutiny for its past approval of NGCP's petition to pass on the franchise tax to consumers.
The Bureau of Internal Revenue confirmed before legislators that the National Grid Corporation of the Philippines has been religiously paying the 3-percent franchise tax mandated by law.
“What are the possible legal accountability on the part of the body who approved the resolution authorizing NGCP to pass on the 3 percent franchise tax?” APEC party-List Rep. Sergio Dagooc said. Salceda, for his part, pushed for a refund mechanism for the P204.3 billion in alleged excess revenues of NGCP.
NGCP Franchise Tax Energy Regulatory Commission Excess Revenues Refund
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