Failure to Withhold Taxes Resulting in Overpayments to Suppliers
Department of Public Works and Highways · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceOne DPWH regional office did not withhold the required taxes from payments to some suppliers, so the suppliers were paid more than they should have been. The total overpayment was about P1.46 million, which needs to be recovered.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"283 Region/ CO Beginning Balance Adjustments Withheld/ Deducted Remittances Unremitted Balance Remarks Amount (In PhP) respectively, which are subject to reconciliation. XII 1,529,263.23 0.00 98,607,865.99 97,167,883.24 2,969,245.98 The unremitted balance is subject to reconciliation, adjustments and remittance in CY 2024. XIII 0.00 0.00 135,783,640.35 135,372,464.72 411,175.63 Balance remitted in January 2024. Total 35,286,723.77 364,528.31 1,995,216,785.98 1,995,824,683.0 3 35,043,355.03 2,030,868,038.06 30.3 The table above shows that out of the total GSIS premium contributions and loan amortizations of P2,030,868,038.06 deducted/withheld from the salaries of its officers and employees representing personal share and loan amortizations, the amount of P1,995,824,683.03 or 98.27 percent were remitted to GSIS during the year; thus, leaving an unremitted balance of P35,043,355.03 or 1.73 percent as at year-end. Of the unremitted balance, the amount of P1"