{"id":248269,"date":"2020-03-13T23:28:01","date_gmt":"2020-03-14T03:28:01","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=248269"},"modified":"2020-03-13T23:28:01","modified_gmt":"2020-03-14T03:28:01","slug":"cta-junks-philip-morris-p10-m-tax-refund-suit","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/03\/13\/cta-junks-philip-morris-p10-m-tax-refund-suit\/","title":{"rendered":"CTA junks Philip Morris P10-M tax refund suit"},"content":{"rendered":"
\"\"<\/a>
FILE: Court of Tax Appeals of the Philippines located at Agham Road, National Government Center, Diliman, Quezon City in Metro Manila. (Photo By Judgefloro – Own work, Public Domain<\/a>)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0\u2013 The Court of Tax Appeals (CTA) has turned down a petition filed by tobacco product manufacturer Philip Morris Philippines Manufacturing Inc. for a tax refund amounting to PHP10.8 million.<\/p>\n

In a 14-page decision dated March 9 released on Friday, the tax court’s en banc denied for lack of merit and affirmed the earlier decision handed down by the CTA’s First Division on the case.<\/p>\n

The firm, in seeking a tax refund or an issuance of a tax credit certificate for PHP10.8 million, claimed the sum represents the excise tax it advanced or deposited on cigarette products it exported from April to December 2008.<\/p>\n

The CTA en banc upheld the division’s ruling in citing that the two-year prescriptive period under tax laws precludes the firm from recovering the excise tax it paid in advance.<\/p>\n

In finding the firm’s arguments without merit, the CTA said the tobacco manufacturer “failed to timely file its administrative and judicial claims for a refund within the two-year prescriptive period” under the National Internal Revenue Code (NIRC).<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0\u2013 The Court of Tax Appeals (CTA) has turned down a petition filed by tobacco product manufacturer Philip Morris Philippines …<\/p>\n","protected":false},"author":44,"featured_media":237266,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,95],"tags":[],"class_list":["post-248269","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-news-ph"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/248269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=248269"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/248269\/revisions"}],"predecessor-version":[{"id":248272,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/248269\/revisions\/248272"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/237266"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=248269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=248269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=248269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}