The Court of Tax Appeals has partially granted the appeal of Chevron Holdings, Inc. for a tax refund claim to the modified amount of P49.8 million of unutilized value-added tax (VAT) attributed to zero-rated sales for the four quarters of 2014. READ:
In a 33-page resolution on March 16, the court’s first division ordered the commissioner of internal revenue to refund or issue a tax credit certificate representing the holding firm’s excess VAT for 2014.
CIR, the respondent, has the authority under the law to decide, approve and grant claims for tax refunds. It added that the court made a mistake that the documents submitted by the company were insufficient to prove its entitlement to the full amount of P84.2 million.
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