Unremitted withholding taxes and long-outstanding accounts
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe agency has nearly P47 million in old withholding taxes that were never sent to the government. This is a problem because it can trigger fines and shows weak financial controls.
Why It Matters
Recommended Actions
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Original Audit Finding Excerpt
"Further analysis disclosed the existence of the following accounts aggregating to P46,888,084.19, which remained unsettled for more than a year and may affect the reliability of the reported balances:"