Let’s see how President Aquino will resolve this because it involves people who helped him in his bid for the presidency.
Lorenz Neil Santos, InterAksyon.com
In their 65-page petition, the banks urged the high tribunal to stop the government – particularly the Bureau of Internal Revenue (BIR) and the Bureau of Treasury – from implementing BIR ruling 370-2011, which would impose a 20-percent final withholding tax on PEACe bonds sold in 2001.
The eight banks that filed the petition are Banco De Oro, Bank of Commerce, China Banking Corporation, Metropolitan Bank and Trust Company, Philippine Bank of Communications, Philippine National Bank, Philippine Veterans Bank and Planters Development Bank.