New and Used Car Talk Reviews Hot Cars Comparison Automotive Community

The Largest Car Forum in the Philippines



Page 1 of 3 123 LastLast
Results 1 to 10 of 23
  1. Join Date
    Sep 2003
    Posts
    23,318
    #1
    Should gov't interfere with this or let it run it's course? Laki ng nakataya dito...

    Gov't gets to seize Shell imports in P7.3-B tax row

    Pilipinas Shell Petroleum Corp. failed to get an injunction from the Court of Tax Appeals, which on Monday effectively allowed the Customs bureau to seize the oil firm's import shipments to pay for P7.34 in alleged back taxes.

    "The damage in [Shell's] property rights must in the meantime take a back seat to the paramount need of the state for funds to sustain governmental functions," the tax appeals court said in a four-page resolution.

    "Compared to the damage to the state, which may be caused by reduced financial resources, the damage to [Shell] is negligible," it added.

    Pilipinas Shell lawyer John Balisnomo said they would exhaust legal remedies given the severe consequences of the ruling. The oil firm earlier warned of a looming fuel shortage, job losses and economic disruption in case the seizures proceed.

    Shell had said that the seizure of future shipments could lead to the closure of its Batangas refinery, which employs 823 workers, and losses of P11 billion in sales a month.

    With no products to sell, Shell’s 959 retail stations would eventually shut down. Shell’s dealers accounted for 34 percent of the market as of June last year. These stations employ nearly 17,000 daily wage earners who also stand to lose their jobs as a result of the seizures.

    Apart from Shell’s 27.7-percent market share on average in the retail fuels market, it also supplies 33 percent of the fuel requirements of power plants, including the state-owned National Power Corp.’s facilities, 17.2 percent of the entire aviation fuel market, 24.6 percent of the marine transport market, and 70.2 percent of the demand for bitumen by contractors engaged in roadwork.

    Edgar Chua, Shell country chair, said that the oil company had been advised by its head office that “if we don’t get suspension order and [if Customs] will be mandated to seize imports, we will be forced to stop imports.”

  2. Join Date
    Nov 2002
    Posts
    1,326
    #2
    government din naman nanguna rito eh.. with BOC and BIR changing the ruling to apply RETROACTIVELY.. i think it is impossible for BOC / BIR to flex it's muscles like this without go signal from the top guys (like Teves, or even GMA herself)... what did they expect? na mag offer ng under the table deal na lang ang Shell to settle things?

  3. Join Date
    Nov 2005
    Posts
    39,147
    #3
    this is government-gone-wild

    coz of its budget deficit, the govt is on a tax-collection rampage

    kahit double taxation gagawin ng gobyerno

    ganyan ka-desperado ang gobyerno

    seizing private assets

    very good

    investors will be thinking twice before investing here na

  4. Join Date
    Oct 2002
    Posts
    29,320
    #4
    Greed knows no bounds.

    Would anyone expect greed-made-legal by the government be any better?

  5. Join Date
    Feb 2008
    Posts
    14,181
    #5
    Ganun lang yan... They take money from Shell thus discouraging investments. What they gain in Shell they lose much much more from VAT and income tax from additional business lost... But as I have said, government people are stupid! Its a job that makes anyone stupid even if he/she is the smartest person before they entered government!

    Isa lang payo ko sa gobyerno! Cut the entitlement spending and raise the third finger on the church and promote family planning. This country has too many non-taxpaying (to say it badly useless) people compared to taxpaying (useful) people. Di patas ang ratio!

  6. Join Date
    Nov 2005
    Posts
    39,147
    #6
    expect more taxes

    expect more govt harassment to squeeze more money out of the private sector

  7. Join Date
    Feb 2008
    Posts
    14,181
    #7
    But if the private sector stops doing business what is there to squeeze??

  8. Join Date
    Nov 2005
    Posts
    39,147
    #8
    Quote Originally Posted by tidus1203 View Post
    Ganun lang yan... They take money from Shell thus discouraging investments. What they gain in Shell they lose much much more from VAT and income tax from additional business lost... But as I have said, government people are stupid! Its a job that makes anyone stupid even if he/she is the smartest person before they entered government!

    Isa lang payo ko sa gobyerno! Cut the entitlement spending and raise the third finger on the church and promote family planning. This country has too many non-taxpaying (to say it badly useless) people compared to taxpaying (useful) people. Di patas ang ratio!
    Ya, one time gain lang ang double taxation ng gobyerno sa Shell

    once this is over and the damage done, the govt will be collecting less taxes from Shell coz Shell will be winding down its operations in Philippines

    they could shut down the refinery and just import finished products like Chevron

    stupid govt people

    short term mag isip

    one time gain ang habol

    the world is watching

    the flow of capital into the country will slow down to a trickle if the govt keeps up its harassment of private companies

  9. Join Date
    Jan 2003
    Posts
    2,979
    #9
    grabe talaga harrasment ngayon ng gobyerno! tsk! I believe we need to restructure the government and replace most government employees.... kung hindi gagawin yan patuloy ang exodus ng mga mamamayan at mga mamumuhunan....

  10. Join Date
    Jan 2007
    Posts
    4,459
    #10
    Fuel shortage? That's funny

Page 1 of 3 123 LastLast
Coming Fuel Shortage?