The Supreme Court has ordered the Makati City government to settle its deficiency taxes amounting to over P1.2 billion, plus interests.
In a resolution dated March 15 but released only on July 18, the high court鈥檚 Third Division told the Makati City government to pay the Bureau of Internal Revenue (BIR) its deficiency taxes for 1999-2001 and 2002-2004 in the amounts of P1.05 billion and P217.8 million, respectively.
In addition, Makati has to pay interest and delinquency interest to be computed by the BIR.
The Supreme Court, however, ordered the BIR to deduct P400 million and P302 million that the Makati City government had paid earlier.
In issuing the order, the Supreme Court denied both Makati City鈥檚 motion to dismiss the case and petition to set aside the decision of the Court of Tax Appeals.
The high court ordered the bureau to impose deficiency and delinquency interests at 20 percent per annum on the basic deficiency and on the total amount. 鈥擳INA G. SANTOS
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