Government-owned and controlled corporation

In the Philippines, a government-owned and controlled corporation (GOCC), sometimes with an "and/or",[1] is a state-owned enterprise that conducts both commercial and non-commercial activity.

10149), GOCCs are overseen by the Governance Commission for Government-Owned or Controlled Corporations (GCG).

[3] Many but not all GOCCs have their own charter or law outlining its responsibilities and governance.

7656, all GOCCs are required to "declare and remit at least 50% of their annual net earnings as cash, stock or property dividends to the National Government.

[2] Dividends remitted were only one-tenth (1/10) of the total required by law according to the commission.