MANILA — The Philippine Stock Exchange said on Tuesday it would challenge a Bureau of Internal Revenue finding that it has over P189 million in tax deficiency in 2017.
In a disclosure, the PSE said the assessment involves alleged deficiencies in various taxes such as income tax, value-added tax, and expanded withholding tax, among others.
"The Company will dispute said assessment and will take appropriate legal action for the cancellation of the assessment," the bourse said.
The BIR said it will not be releasing further details on the issue for now.
Finance Secretary Benjamin Diokno said in a separate briefing that the BIR "is just doing their job." The government is also putting pressure on tax collecting agencies for better revenues, he added.
-- with reports from Job Manahan and Jessica Fenol, ABS-CBN News