COA fails to audit 2008-2014 TCCs

The Commission on Audit failed to follow its original objective to audit all issuance of tax credit certificates from 2008 to 2014, employees of the One Stop Shop Inter-Agency Tax Credit and Duty Drawback Center said in their May 3 petition for certiorari and prohibition before the Supreme Court.

Twenty-one current and former employees of OSS-Center filed the 168-page petition, asking the High Court to stop COA from its unrestrained issuance of notices of disallowance, an act, which they said, had no legal basis and authority.

According to the petitioners, COA Office Order 2015-067 had assigned a special audit team to conduct audit “without qualification” all tax credit and duty drawback certificate issuances by the OSS-Center from Jan. 1, 2008 to Dec. 30, 2014.

They said COA deviated from the original objective to conduct a “sectoral performance audit” without reason, as it audited only 3,259 TCCs issued to 33 firms out of the total of 8,792 TCCs, or only 33 percent of the issued TCCs.