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Splash Corporation files a Petition for Review against the alleged deficiency taxes for 2008

The Splash Corporation today filed a Petition for Review with the Court of Tax Appeals to appeal the assessment of Php256,946,058.68 issued by the Commissioner of Internal Revenue against the Company for alleged deficiency taxes for the year 2008.
Said assessment essentially assails the income tax exemption enjoined by the Company under the Inventors and Inventions Incentives Act of the Philippines (R.A.7459) despite the rulings previously issued by the Bureau of Internal Revenue confirming such tax exemption as well as the 2008 decision of the Court of Tax Appeals (CTA) in "Splash Corporation v. Commissioner of Internal Revenue” (CTA EB No. 330; CTA Case No. 7197) granting the Company’s claim for tax refund arising from said tax exemption. 

The 2008 CTA decision was subsequently affirmed by the Supreme Court and had attained finality on October 2, 2008.
- https://www.affordablecebu.com/
 

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"Splash Corporation files a Petition for Review against the alleged deficiency taxes for 2008" was written by Mary under the Business category. It has been read 1783 times and generated 0 comments. The article was created on and updated on 07 May 2012.
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