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Caltex vs. COA: Tax Offset Ruling by Vladimir Sabarez Linawan is a document available to read on EtoBox.

What is Caltex vs. COA: Tax Offset Ruling about?

Caltex Philippines attempted to offset taxes owed to the Oil Price Stabilization Fund (OPSF) with claims for reimbursement from the fund. The Commission on Audit (COA) disallowed this offsetting. The Supreme Court affirmed, holding that: 1) a taxpayer may not offset taxes with claims against the government as they are not mutually indebted; 2) oil companies act as tax collectors for the public fund; and 3) the OPSF contributions are a valid regulatory tax despite their purpose being to stabilize prices, rat

Author

Vladimir Sabarez Linawan

Language

EN