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COA disallows again TCCs of textile firms worth ₧424M

THE Commission on Audit (COA) disallowed another set of tax credit certificates (TCCs) previously granted to textile firms worth P424.26 million, bringing the current total to P3.83 billion. In a statement on Monday, the Department of Finance said the latest set of TCCs that were disallowed by the audit body… ....

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Textile-firm TCCs voided by COA in 6 years now ₧3B | Bernadette D. Nicolas

THE Commission on Audit (COA) has so far invalidated P3 billion in tax credits that were found to have been illegally issued to several textile companies from 2008 to 2014. Citing a report from COA Special Audits Office, the Department of Finance (DOF) said another set of tax credit certificates… ....

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