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DOF urged to junk BIR’s tax refund circular

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Twenty local and foreign business groups and industry associations have filed a joint letter and position paper urging the Department of Finance to junk the controversial circular on tax refund.

Posted: November 6th, 2014 in Headlines | Read More »

Tax refund rule expected to cut red tape, prevent corruption

bir building

The Bureau of Internal Revenue (BIR) on Tuesday reiterated that the controversial circular it released in June, which governed the processing of investors’ tax credits and refunds, was a mere implementation of rules put in place 16 years ago.

Posted: November 5th, 2014 in Latest Business Stories | Read More »

SC upholds tax refund for PAL

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Philippine Airlines (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 »

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 »

SC reversal on tax refund case alarms investors

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Foreign businessmen from several foreign chambers of commerce have voiced their concern over a recent Supreme Court ruling that denied the value-added tax (VAT) refund claims of a large foreign investor in the country.

Posted: April 21st, 2013 in Headlines | Read More »

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