Marcos orders abolition of tax credit center - BusinessWorld Online

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Marcos orders abolition of tax credit center - BusinessWorld Online
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President Ferdinand R. Marcos, Jr. has ordered the abolition of a one-stop shop center that simplified the processing of tax credits, upon the recommendation of Finance Secretary Benjamin E. Diokno who claimed it was “plagued by corruption allegations.'

PRESIDENT Ferdinand “Bongbong” R. Marcos Jr. — PHILIPPINE STAR/KRIZ JOHN ROSALESfi

“The operations of the OSS Center, which had been plagued by corruption allegations over the years and had been defunct since 2016, is now rightfully under the BIR and the BoC. This will streamline revenue operations and reduce administrative expenses,” Mr. Diokno said in a DoF statement. Mr. Diokno also said the OSS Center had not processed and issued any tax credit certificates since 2016. “It is not practical for the government to provide for its budget every year since it does not perform its functions anymore,” he added.

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