DFP looks for a solution

Duty Free Philippines (DFP) is hoping to find a solution after the Bureau of Internal Revenue (BIR) found that DFP owes Ps.1bn in income tax and value added taxes.

The BIR has told the company that an amount of Ps.600m relates to the years between 1999 and 2002, but interest and penalties for non payment have now pushed it up to Ps.1bnBIR Commissioner Guillermo Parayno confirmed to local reporters that its office is in talks with DFP to try and resolve the matter. One possibility is that the government could decide to write off the penalties and interest, which amount to Ps.400m.

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