Two coconut industry players that were found to be government-owned-and-controlled corporations have been required to send at least half of their reported net earnings to the government, according to the Department of Justice.
2 errant coco firms in hot water? - Daily Tribune tribune.net.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.net.ph Daily Mail and Mail on Sunday newspapers.
THE Department of Justice (DOJ) has issued a legal opinion declaring both the United Coconut Chemicals Inc. (Cocochem) and the Coconut Industry Investment Fund-Oil Mills Group (CIIF-OMG) as government-owned and controlled corporations (GOCCs) that are required to remit at least 50 percent of their net earnings to the national government. Justice…
The Commission on Audit has noted an overstatement amounting to P2.626 billion in the Presidential Commission on Good Government accounting and inventory of the coco levy assets.
IRR of portions of Coco Levy Law takes effect mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.