Del Rosario's Philcement to challenge taxes on imports

August 20, 2024
1:12PM PHT

The cement subsidiary of Del Rosario-led conglomerate PHINMA Corp. is facing a tax bill worth P1.24 billion for past imports. 

Philcement Corp. plans to take legal steps to challenge this decision, a stock exchange filing on Tuesday showed.

The company was earlier informed that the Court of Tax Appeals has rejected their request to overturn the extra taxes (called Safeguard Duties) that were charged on cement imported between October 2019 and October 2022. 

These safeguard duties were applied to cement imports to protect the local cement industry from being negatively impacted from cheaper imported cement. 

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