Tuesday 14 August, 2018
Powered by Ajaxy

CTA annuls Lorenzo Shipping’s P2B taxes—because BIR forgot the date

Sharing is caring!

The Court of Tax Appeals (CTA) has junked the government’s huge P2.01-billion tax assessment against Lorenzo Shipping Corp. (LSC)—because the Bureau of Internal Revenue (BIR) forgot to put the date in the notice.

In a recent decision, the CTA 3rd Division declared the undated Final Assessment Notice (FAN) void because the lack of a date meant it was unclear how to calculate the interest and surcharges incurred on LSC’s tax liabilities for the 2008.

Although LSC received the FAN on April 18, 2013, the due dates were left blank.

“It must be emphasized that the date certain for the payment of tax liabilities is indispensable in an assessment as it dictates the time when the penalties, surcharges and interest begin to accrue against,” read the decision penned by Associate Justice Ma. Belen M. Ringpis-Liban.

Sharing is caring!

Copyright © 2018 Abogado - Latest News in the Philippines