Applicability of Irrevocability Rule Under Section 76 of the Tax Code to Refund or Tax Credit Option
UPSI-MI constructively chose the option of carry-over, for which reason, the irrevocability rule forbade it to revert to its initial choice...
The amount of the consequential damages representing loss of the victim’s earning capacity is subject to tax since such damages are merely replacement of income which would have been subjected to tax if earned...
Its marking of the box "To be refunded" in its 2005 annual ITR constituted its exercise of the option, and from then onwards Rhombus became precluded from carrying-over the excess creditable withholding tax...
The real property tax is due to the local government unit where the property is located. Pending resolution of the boundary dispute...
Revenue Regulations No. 6-2022 removes the validity period of receipts and invoices prescribed under RR No. 10-2015 and RR No. 18-2012....
It is imperative to determine the location of the property in order to identify who between the local government units involved has the authority to collect real property tax...
For VAT purposes, the gross receipts of an HMO do not include the amounts earmarked and actually spent for medical utilization of its members...
An LN is entirely different and serves a different purpose than an LOA. After an LN has served its purpose, the revenue officer should have properly secured an LOA before proceeding...
The quarterly tax payments are advance payments of the tax due on the entire taxable income of that particular taxable year. Thus, these quarterly tax payments are deducted from the total tax due for the entire year as indicated in the final adjustment return...
For DS metering machine users, the payment of the DST upon loading/reloading is merely an advance payment for future application...
The tax exemption granted to non-stock, non-profit educational institutions is conditioned only on the actual, direct and exclusive use of their revenues and assets for educational purposes...
The deposit is a jurisdictional requirement which must be satisfied before the court can entertain any action assailing the validity of the public auction sale...
The sale of the power plants is not "in the course of trade or business" as contemplated under Section 105 of the NIRC, and thus, not subject to VAT...