The Tanco Group’s Philplans First Inc. lambasted Philam, saying that the tax clearances needed to register the sale of the two companies--Philam Plans and Philhealthcare--could not be obtained because of the alleged unpaid taxes to the Bureau of Internal Revenue (BIR).
Philplans First said Philam was fully paid five years ago, adding that the Tanco Group did its part by paying the taxes due from it as buyer.
“BIR already ruled in February 2012 that Philam is liable to pay the deficiency tax, and even emphasized that the tax code clearly says that there are no exemptions,” said Philplans chairman Monico Jacob.
Jacob said the exact amount of deficiency taxes due from Philam was not available, but he said the amount “runs in the hundreds of millions of pesos.”
Jacob also said that after BIR issued the ruling, the co-owner of Philam in Philhealthcare, United Health Group, dutifully paid its share of the same taxes being assessed to Philam.
Philhealthcare, prior to the sale, was equally owned by United Health Group and Philam.
"But Philam is still holding out and has been asking us to be patient. Puro mag-usap tayo. Limang taon na kaming nag-uusap, wala pa ring nangyayari,” said Jacob.
"In one correspondence to us, Philam admitted the high tax exposure was 'not contemplated.' If that was their mistake, it should not be at our expense. We bought something, paid for it in full and expect no less than the full transfer of the companies in our name,” he added.
Jacob stressed that the Tanco Group has suffered damages due to the delay, noting that the issue involves “corporate integrity.”
Philam, meanwhile, said the matter has been brought to the court, but no ruling has been made so far.
“The issue of any tax obligations to our company related to the sale of the former subsidiaries is a matter we have presented to the courts following advice from our legal counsel. The matter before the courts is the amount of the BIR assessment related to that transaction,” it said in a statement.
Philam said Philplans First Inc. is aware of this and have been regularly updated with developments in the case.
It also said that it will abide by whatever the court’s decision is, adding that it remains committed to honoring its commitments to the BIR.
“This is a matter that will be resolved as soon as the court has made a decision on the appeal. In the meantime, as always, we will continue to honor all obligations to all of our stakeholders and to comply fully with our fiscal obligations,” Philam said.
source: www.abs-cbnnews.com
