Bersamin

FACTS: On 28 February 2014, petitioner received a Final Decision on Disputed Assessment worth PhP 4,473,228,667.87. It protested against the same through a request for reconsideration but was denied by the CIR in its decision dated 26 May 2014. On 13 June 2014, petitioner appealed the CIR’s decision to the CTA through a petition for review with Motion to Suspend Collection of Tax. The CTA granted the motion; however, it required petitioner to deposit a surety bond equivalent to 150% of the assessment. ISSUE(S): Whether or not the CTA may suspend the collection of taxes. HELD: YES. The CTA may…

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FACTS: In its 1997 income tax return filed on 13 April 1998, respondent declared a creditable withholding tax of P1.2M for taxable year 1997 to be claimed as tax credit in taxable year 1998. On 13 April 1999, respondent submitted its ITR for taxable year 1998 in which it reported a net loss. Due to its net-loss position, it was unable to claim the P1.2M tax credit. ISSUE(S): Whether or not respondent may claim a refund of the unutilized creditable withholding tax for taxable year 1997. HELD: NO. Inasmuch as the respondent already opted to carry over its unutilized creditable…

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