Tax Court Grants P24-M Refund To BPO Firm

Tax Court Grants P24-M Refund To BPO Firm

Spotlight

More Than 124k Drivers, Operators Join Transport Cooperatives

A total 124,443 drivers and franchise owners and operators have joined accredited transport cooperatives ready for franchise consolidation.

Globe Recreates The Way You Learn With Special Promos

Globe introduces special Go promos for students and the GoTOK series to make quality learning and self-improvement accessible for everyone online and in real life!

Roma Point Bridge Construction In Full Swing With Republic Cement Support

Expected to be the longest bridge in Calabarzon, the Roma Point Bridge, also known as the Alabat Bridge, will be 1.7 kilometers long upon completion and will connect Alabat Island to mainland Quezon province.

Specialty Pulp Manufacturing Inc. Chooses 100% Clean Energy From EDC

Agriculture-based manufacturing company SPMI is now being powered by clean, renewable, reliable energy from EDC!

The Court of Tax Appeals (CTA) has ruled in favor of a tax refund to business process outsourcing (BPO) firm Wells Fargo Philippines Solutions Inc., amounting to PHP24.116 million for excess payment of creditable withholding taxes (CWT) for 2014.

The excess taxes were in connection with the deed of absolute sale of its assets to Wells Fargo Enterprise Global Services LLC (Wells Fargo), amounting to PHP931.323 million that year.

On Apr. 15, 2015, Wells Fargo Philippines filed its annual income tax return (AITR), claiming CWT credits in the total amount of PHP33.066 million, to which it claimed to have utilized the amount of PHP7.57 million to pay its income tax liability for 2014.

Wells Fargo Philippines claimed that it still has excess CWT credits of PHP25 million.

On November 3, 2016, Wells Fargo Philippines filed with BIR Revenue District Office No. 44 Taguig Pateros an application for refund of excess CWT.

On January 10, 2017, the firm got a letter dated December 29, 2016, from Revenue Officer (RO) Grace Manuel, requiring it to submit additional documents in connection with its application for refund. The firm complied on January 17, 2017.

On January 27, 2017, the firm received another letter from Manuel, requiring submission of additional documents pertinent to its application for refund. It complied on March 3, 2017.

On April 17, 2017, Wells Fargo Philippines filed the petition for review before the tax court, alleging inaction on the part of the BIR on its application for refund.

In its June 22, 2017 answer filed to the tax court, the BIR claimed the company’s application for refund was still subject to investigation and that as a rule, taxes paid and collected are presumed to be made in accordance with the laws and regulations, hence, not refundable.

“Besides, in an action for tax credit/refund, the burden is upon the taxpayer to prove that he is entitled thereto, and failure to discharge is fatal to the claim,” the BIR said.

Citing compliance with legal requirements on the filing of a tax refund claim, the CTA Special Third Division in its 18-page decision through Associate Justice Esperanza R. Fabon-Victorino directed the refund.

Associate Justice Ma. Belen M. Ringpis-Liban concurred. (PNA)

1st ARISE Virtual Annual General Membership Meeting Focused On Business Resilience

ARISE Philippines discusses the need to focus on key priority areas in its advocacies on disaster risk reduction in its first virtual Annual General Membership Meeting.

BOC-Clark To Donate Over 5K Seized Gadgets To DepEd

Over 5,000 electronic devices such as laptops and cellphones are set to be donated by the Port of Clark to the Department of Education.

Manileños Hopeful As More Barangays Now Free Of COVID-19

Manila City residents express high hopes that the pandemic will soon be defeated in the city after 172 barangays were declared COVID-19 free.

SMC To Buy Up Plastic Wastes To Power Cement Facilities

San Miguel Corporation ramps up its efforts to help manage the country's solid wastes and create more livelihood opportunities in the pandemic by buying up bigger volumes of plastic wastes to fuel its cement manufacturing facilities.

San Carlos City Bans Non-Essential Travel

Negros Occidental indefinitely prohibits non-essential travel among its residents due to the rising cases of COVID-19.

Weathering The Storm: How Investing In Condotels Can Help You Bounce Back After Pandemic

Is the pandemic really the best time to maximize the advantages of investing? For CitiGlobal Realty and Development Inc., there is no better time than now.

Mayor Treñas: Ilonggos Rejoice Over Mateo’s Miss Universe PH Victory

“The Ilonggo community is truly proud of her achievement. She is an epitome that Iloilo City can truly level-up and rise above challenges during these times.”

Quiapo Church Introduces Mobile App

The Quiapo Church goes digital! This newly launched app will help devotees attend mass virtually and deliver their prayer intentions. Will you be using it?

NoCot Beefs Up Drive Against Measles

Health authorities in North Cotabato is slated to intensify their campaign against measles following the higher number of cases recorded from January to October this year compared to the same period last year.

‘Pepito’ To Bring Rains Over Luzon

Brace yourself! There is more Pepito storm to come!