{"id":52333,"date":"2015-06-19T18:03:46","date_gmt":"2015-06-19T10:03:46","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=52333"},"modified":"2015-06-19T18:03:46","modified_gmt":"2015-06-19T10:03:46","slug":"bir-told-to-stop-issuance-of-assessment-notices","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2015\/06\/19\/bir-told-to-stop-issuance-of-assessment-notices\/","title":{"rendered":"BIR told to stop issuance of assessment notices"},"content":{"rendered":"
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MANILA — The Bureau of Internal Revenue has been told not to issue preliminary and final assessment notices and other administrative matters related to\u00a0Revenue Regulations No. 4-2011 that imposes restrictions on bank tax deductions.<\/p>\n

The Makati City Regional Trial Court Branch 57 reiterated the prohibition in an order dated June 10.<\/p>\n

The court issued the injunction following the petition filed by the Bankers Association of the Philippines (BAP).<\/p>\n

\u201cShould there be distraint and levy, the banks will be deprived possession of their properties, effectively crippling their business operations,\u201d BAP said in their petition.<\/p>\n

The petition was filed to nullify RR 4-2011 after the BIR started issuing PANs on several banks.<\/p>\n

Petitioner banks include Asia United Bank; BDO Unibank Inc.; Bank of America; Bank of Commerce; BDO Private Bank Inc.; Citibank, N.A., Philippine branch; China Banking Corp.; Chinatrust (Phils.) Commercial Bank Corp.; Deutsche Bank AG, Manila Branch; East West Banking Corp.; ING Bank N.V., Manila branch; Philippine Bank of Communications; Philippine National Bank; Philippine Veterans Bank; PNB Savings Bank; Rizal Commercial Banking Corp.; Security Bank Corp.; Standard Chartered Bank, Philippine branch, and United Coconut Planters Bank.<\/p>\n

Makati RTC Judge Honorio E. Guano Jr. said in the order that the injunction was important to avoid rendering moot once they have ruled on the case.<\/p>\n

The court said that it \u201cviolates the petitioners\u2019 rights insofar as it imposes a manner of allocation of deductible expense which is, as argued by the petitioners, contrary to settled practice and provisions of the tax code; that such implementation will require petitioners to dispute the tax assessments every time it is issued.\u201d<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA — The Bureau of Internal Revenue has been told not to issue preliminary and final assessment notices and other …<\/p>\n","protected":false},"author":44,"featured_media":15186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[95],"tags":[],"class_list":["post-52333","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news-ph","mauthors-philippine-canadian-inquirer"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/52333","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=52333"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/52333\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/15186"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=52333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=52333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=52333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}