DOF lauds PPA for law-mandated remittance of P3.541 billion in 2020 despite COVID-19 pandemic

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(Eagle News) — The Department of Finance has lauded the Philippine Ports Authority for its 2020 remittance of P3.541 billion in 2020 despite the COVID-19 pandemic. The amount is 6 percent more than the required amount under the law, as it represents 56 percent of the PPA’s 2020 net income after tax of P6.138 billion. Under Republic Act  No. 7656 or the Dividend Law, government-owned and -controlled corporations are required to declare and remit to […]