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SC upholds tax refund for PAL

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PAL. FILE PHOTO

The Supreme Court has upheld the Court of Tax Appeals’ order for the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) to refund to Philippine Airlines some P4.55 million in excise taxes that PAL had paid, under protest, in 2007 for its imported cigarette and liquor supplies for its international flights.

Posted: September 19th, 2014 in Latest Business Stories | Read More »

Pacquiaos ask SC to stop tax court

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Manny and Jinkee Pacquiao File Photo by Elton Lugay

World boxing champ and Saranggani Rep. Manny Pacquiao and his wife Jinkee have asked the Supreme Court to stop the Court of Tax Appeals (CTA) from requiring them to deposit a cash bond of P3.29 billion or a surety bond of P4.94 billion as a condition to suspend the collection of their alleged tax deficiencies in 2008 and 2009.

Posted: August 16th, 2014 in Latest Business Stories | Read More »

Condo association dues subject to VAT—BIR

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The Bureau of Internal Revenue AFP FILE PHOTO

Association dues paid by residents of condominiums are still subject to value added tax (VAT), noting that recent rules on the issue remain valid, according to the Bureau of Internal Revenue (BIR).

Posted: June 26th, 2014 in Latest Business Stories | Read More »

SC junks BIR bid to collect P300-M in corporate taxes from PAL

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The Supreme Court on Tuesday stopped the Bureau of Internal Revenue, the Department of Finance and the Securities and Exchange Commission from requiring firms to disclose an alphabetical list (alphalist) of investors who receive income payments and dividends, a regulation that has stirred concerns of capital flight and its crippling effects on the economy.  INQUIRER FILE PHOTO

The Supreme Court has denied for lack of merit the petition of the Bureau of Internal Revenue to reverse a Court of Tax Appeals ruling that stopped them from collecting over P300 million in corporate income tax from the Philippine Airlines.

Posted: October 18th, 2013 in Latest Business Stories | Read More »

Coca-Cola’s petition for tax refund denied

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coca-cola

The Court of Tax Appeals has denied the petition of Coca-Cola Bottlers Philippines Inc. for a refund of some P80.4 million in value-added tax that the company claims it overpaid in 2008.

Posted: May 27th, 2013 in Latest Business Stories | Read More »

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