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Bourse legal expert tipped to replace Mendoza in DoF

By Ruben Hortelano

04/28/2008

The shortlist on the replacement for resigned Finance Undersecretary Gaudencio Mendoza’s who seat as chief of revenue operations consists of five names including a counsel of the local bourse.

Mendoza resigned amid the controversy generated by his ruling on an excise tax case involving the tax on a cigarette brand of British American Tobacco.

The shortlist of candidates included Philippine Stock Exchange general counsel Ruel Refran, according to Department of Finance (DoF) sources.

Refran is considered the strongest contender not only because of his legal background but also because of his supposed proximity to former Senator Ralph Recto.

Recto, who pushed hard in the Senate for many of the economic reforms introduced by the government to improve the fiscal situation including the expanded value-added tax (eVAT) law.

Recto, for his part, is rumored to being groomed as a successor to Finance Secretary Margarito Teves.

Informed sources also said BIR assistant commissioner for inspection services Estela Sales and BIR assistant commissioner for legal services James Roldan were similarly in the shortlist.

Another lawyer, Danilo Uy, who currently works for the Office of the Solicitor General, is also in that shortlist, according to the sources.

Catherine Manahan who presently works for the premiere accounting firm Isla Lipana is also included in the list as possible replacement for Mendoza, the source added.

Finance Undersecretary Gil Beltran, who normally helps craft fiscal policy, has temporarily taken over Mendoza’s responsibilities until Malacañang announces its choice for the post soon.