PSALM and BIR enter into a mutually advantageous global settlement of tax issue
The Power Sector Assets and Liabilities Management Corporation (PSALM) and the Bureau of Internal Revenue (BIR) entered into a mutually advantageous global settlement of all the pending tax issues between them, consistent with the whole-of-government approach promoted by President Rodrigo R. Duterte. ...
PSALM welcomes the issuance of EO No. 157
The Power Sector Assets and Liabilities Management Corporation (PSALM) is grateful to President Rodrigo Roa Duterte and the Department of Finance (DOF) for the issuance of Executive Order (EO) No. 157. The said EO No. 157 authorizes the reduction of the 2021 real property tax (RPT) due on property, machinery and equipment used for production of electricity by independent power producers (IPPs) covered by build-operate-transfer contracts (BOTs) with government-owned or controlled corporations (GOCCs)....
DOF Press Release: PSALM cuts financial obligations by almost P183-B under Duterte administration
The Power Sector Assets and Liabilities Management Corp. (PSALM) has trimmed to P355.2 billion its financial obligations as of end-2021 from close to P538 billion before President Rodrigo Duterte assumed office in 2016....