PSALM and BIR enter into a mutually advantageous global settlement of tax issue


The Power Sector Assets and Liabilities Management Corporation (PSALM) and the Bureau of Internal Revenue (BIR) entered into a mutually advantageous global settlement of all the pending tax issues between them, consistent with the whole-of-government approach promoted by President Rodrigo R. Duterte. ...

PSALM welcomes the issuance of EO No. 157


The Power Sector Assets and Liabilities Management Corporation (PSALM) is grateful to President Rodrigo Roa Duterte and the Department of Finance (DOF) for the issuance of Executive Order (EO) No. 157. The said EO No. 157 authorizes the reduction of the 2021 real property tax (RPT) due on property, machinery and equipment used for production of electricity by independent power producers (IPPs) covered by build-operate-transfer contracts (BOTs) with government-owned or controlled corporations (GOCCs)....

DOF instructs PSALM to stop incurring liabilities from ailing electric cooperatives


The Department of Finance (DOF) has instructed the Power Sector Assets and Liabilities Management Corporation (PSALM) to stop providing ailing electric cooperatives with power supply that they cannot pay for. Secretary Carlos Dominguez III said that PSALM should not incur more liabilities arising from non-paying electric cooperatives. He stressed that PSALM’s mandate does not include subsidizing the energy requirements of ailing electric cooperatives....

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