Tax court upholds power firm’s P101-million refund
Court of Tax Appeals. (INQUIRER FILE PHOTO)
MANILA, Philippines — The Court of Tax Appeals has upheld an earlier decision to grant power generation and distribution firm First Philippine Utilities Corp.’s (FPUC) refund claim worth P100.9 million, enjoining the Bureau of Internal Revenue (BIR) from collecting any penalty assessments it issued against the company.
In a 16-page decision promulgated on May 24, the appellate court said its First Division did not err in granting FPUC ‘s petition for review and canceling BIR’s final assessment notice and a formal letter of demand issued against it in 2013, which said it had over P100.88 million in tax liabilities in 2012.
“All told, the court en banc finds no justifiable reason to reverse or set aside the assailed decision and assailed resolution of the court in division,” the tribunal said.
The case stemmed from a BIR audit of FPUC’s taxable records in 2013.
