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Supreme Court rules tax case in favor of mining firm

Cbanga360.Net - The Bicol Street Journal

Published         25 Jan , 2015      2:04 am          482 views.

Supreme Court rules tax case in favor of mining firm.

MANILA, Jan. 25 — A mining corporation received a favorable Supreme Court tax ruling on unpaid claim for refund amounting to over P3 million.

The case pertains to the complaint filed by Taganito Mining Corporation against the Bureau of Internal Revenue.

The high court on Friday granted the petition and reversed an earlier decision and resolution of the Court of Tax Appeals en banc dated April 18, 2011 and Aug. 9, 2011, respectively.

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The SC ordered the Commissioner of the BIR to grant a refund or issue a tax credit certificate amounting to P3.6 million.

Much earlier, Taganito filed on Dec. 30, 2003 before the BIR Excise Taxpayers’ Assistance Division a refund application for the alleged excess Value Added Tax (VAT) they paid amounting to P4.4 million for the period Jan. 1, 2002 to Dec. 3, 2002.

Not waiting for the BIR decision on the application for refund, the mining company brought its request before the CTA by filing a petition for review in February 2004.

The CTA Second Division granted the petition for refund in the amount of P3.6 million.

However, the CTA en banc dismissed the petition. This prompted the company to elevate the case to the SC.

Taganito has its field mining operations in Claver, Surigao del Norte.

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