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BSP Tax Payments on Schedule

01.05.2004

The Bangko Sentral ng Pilipinas (BSP) today said its tax payments are current and denied it owes P6 billion in back taxes to the Bureau of Internal Revenue (BIR).

The BSP said the stories published today were based on old information. The issue of back taxes was settled in November 2003 after a series of meetings to discuss and clarify the BIR assessment.

On November 30, 2003, BIR received P4 billion from BSP, an amount BIR Commissioner Guillermo Parayno, Jr. said “shall be considered full and final settlement of all your tax obligations for the periods 2001, 2002 and 2003.”

It is therefore incorrect and unfair to say that BSP owes P 6 billion in back taxes. As a responsible government institution, BSP has been paying its taxes on time and regularly remitting dividends to the National Government.

Between 1993 and November 30, 2003, BSP paid P28.4 billion in taxes and remitted P54.6 billion in dividends to the National Government.

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