Aug 242015
Taxpayers have found some interpretations of the Tax Code to be unfair. There is hope in the courts though as seen in the Supreme Court decision on the Poverty Eradication and Alleviation Certificates (PEACe bonds).
More than a decade ago, the Bureau of Treasury issued to the winning bidder P35 billion worth of 10-year zero-coupon treasury bonds designated as PEACe bonds of the Caucus of Development Non-Governmental Organization Networks (CODE-NGO), the country’s largest nonstock, nonprofit organization, which is composed of six national and six regional member networks, working for social development.