Pilipinas Shell Petroleum Corporation has paid Php1.7 billion or nearly half of its Php3.49 billion in back taxes to the Bureau of Customs (BOC), according to Finance Sec. Carlos Dominguez III.
The Php3.49 billion in total payables, specifically excise and value-added taxes, are from the oil firm’s alkylate importations made from 2014 to 2020. Shell had expressed it is paying the said amount “under protest.” The BOC ordered the multinational oil giant to pay the first tranche by December 27.
Dominguez said the balance of Shell’s payment is due on January 10, 2022.
Customs Assistant Commissioner Vincent Philip Maronilla cautioned that suspending Shell’s import accreditation remains an option if it fails to fully settle the BOC’s tax assessment.
Earlier this year, the Supreme Court lifted the temporary restraining order against the back taxes, paving the way for Custom’s collections.