DOF uncovers another tax credit scam 132 SHARES Share it! Share TweetBy Chinos S. LeycoThe Department of Finance (DOF) flagged yesterday another tax credit scam involving several textile manufacturing companies. In a briefing, Finance Secretary Carlos G. Dominguez III said that the Commission on Audit (COA) uncovered 7,591 questionable tax credit certificates (TCCs) that were issued from 2008 to 2014 with a total value of P11.18 billion. “Expect this Department to pursue the appropriate charges against the public officers and private persons who manipulated and unjustly benefited from the tax credit process with the OSS,” Dominguez said. In July 2014, the DOF suspended its TCC program for textiles amid the proliferation of fake certificates.

Source: Manila Bulletin July 21, 2018 13:52 UTC