PH needs unified stand on Shell tax case – DOETHE Department of Energy (DOE) highlighted the need for the Philippine government to have a unified stand in dealing with the arbitration case filed against it by Shell Philippines Exploration B.V. (SPEX) to ensure that the best interests of the Filipino people will be served. The other members of the Malampaya consortium are Chevron Malampaya LLC with 45 percent and government-owned PNOC Exploration Corp. with 10 percent. The Supreme Court, the Commission on Audit and even Congress have a stake here too.”“In the end, a nationalistic approach is necessary to make a unified stand. In the arbitration case filed, SPEX is challenging COA’s interpretation of the computation of the 60-40 sharing of proceeds from the Malampaya Project. The case stems from a 2009 Commission on Audit (COA) finding that the Malampaya consortium owes the government P54.14 billion in unpaid corporate income taxes.

Source: Manila Times July 24, 2016 12:11 UTC