Category Archives: Tax Code

The two alternative options of a corporate taxpayer whose total quarterly income tax payments exceed its tax liability, and on how the choice of one option precludes the other

Posted on March 8, 2012 by Erineus

In this appeal, the petitioner insists that: I.    THE COURT OF APPEALS ERRED IN HOLDING THAT THE TWO-YEAR PRESCRIPTIVE PERIOD UNDER SECTION 229 OF THE TAX CODE IS NOT JURISDICTIONAL, THUS THE CLAIM FOR REFUND OF RESPONDENT IS SUSPENDED FOR … Continue reading →

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Documentary stamp tax is levied on every document which establishes that insurance was made or renewed upon a life.

Posted on February 27, 2012 by Erineus

As can be gleaned from the facts, the deficiency documentary stamp tax was assessed on the increases in the life insurance coverage of two kinds of policies: the “Money Plus Plan,” which is an ordinary term life insurance policy; and … Continue reading →

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To withdraw the exemption of PAGCOR from the payment of corporate income tax does not violate non impairment clause of the Constitution

Posted on February 26, 2012 by Erineus

Petitioner further contends that Section 1 (c) of R.A. No. 9337 is null and void ab initio for violating the non-impairment clause of the Constitution.  Petitioner avers that laws form part of, and is read into, the contract even without … Continue reading →

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To withdraw the exemption of PAGCOR from the payment of corporate income tax does not violate equal protection clause of the Constitution

Posted on February 26, 2012 by Erineus

The main issue is whether or not PAGCOR is still exempt from corporate income tax and VAT with the enactment of R.A. No. 9337. After a careful study of the positions presented by the parties, this Court finds the petition … Continue reading →

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The burden of proof rests upon the party claiming exemption from tax

Posted on February 26, 2012 by Erineus

 Taxation is the rule and exemption is the exception.[23] The burden of proof rests upon the party claiming exemption to prove that it is, in fact, covered by the exemption so claimed.[24] As a rule, tax exemptions are construed strongly … Continue reading →

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