Balance as of
Years Issued Transaction Year Remarks
12/31/2024
2014 1,244,995.00 2011
2014 10,872,096.40 2012
2015 90,815.00 2014
Total NS ₱13,983,906.40
Notice of Disallowance (ND)
2013 2,500.00 2012 For issuance of
2014 77,310.00 2012 finality of decision
2014 645,500.00 2013
2013 1,587,600.00 2013
Total ND ₱2,312,910.00
15.2 We would like to note that the aforesaid balances do not include Notices of
Suspension, Disallowance and Charge issued prior to the effectivity of the Rules
and Regulations on Settlement of Accounts, which are still subject to
reconciliation with the balances of the accounting record.
Compliance with Tax Laws
16. The Municipality of Basay complied with tax laws on withholding taxes from salaries,
wages, purchases of goods and services, and value-added tax. Taxes withheld were
remitted to the Bureau of Internal Revenue within the reglementary period, every 10th
day of the following month.
Particular General Fund SEF Trust Fund Total
Beginning Balance 2,575,121.57 8,988.60 397,712.77 2,981,822.94
Add: Taxes withheld from Jan - Dec. 2024 4,086,443.38 9,156.59 274,499.70 4,370,099.67
Taxes withheld for remittance to BIR 6,661,564.95 18,145.19 672,712.47 7,352,422.61
Less: Taxes remitted from Jan - Dec. 2024 6,533,595.40 18,960.19 402,504.11 6,955,059.70
Balance as of December 31, 2024 127,969.55 (815.00) 270,208.36 397,362.91
16.1 As of December 31, 2024, the ending balances of the withholding taxes amounting
to ₱397,362.91 were remitted on January 10, 2025.
Compliance with Mandatory Contributions
17. The Municipal Government remits its GSIS, Pag-IBIG, and PhilHealth premiums and
contributions within the reglementary period.
Particular Due to GSIS Due to Pag-Ibig Due to PhilHealth Total
Beginning Balance 1,634,069.76 52,856.27 172,871.02 1,859,797.05
Add: Taxes withheld from Jan - Dec. 2024 10,258,448.85 765,047.82 1,619,542.53 12,643,039.20
Less: Remittances from Jan - Dec. 2024 9,597,612.82 669,488.00 1,620,656.42 11,887,757.24
Adjustments: Add/Deduct 1,187.31 0.00 2,668.90 0.00
Balance as of December 31, 2024 2,296,093.10 148,416.09 174,426.03 2,618,935.22
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