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1. Respondent Toshiba is a domestic corporation registered with PEZA as an ECOZONE export enterprise located in Laguna Technopark. It filed VAT returns for the first two quarters of 1996 reporting input VAT of P18M+ from purchases of capital goods and services but had not engaged in any business activity. 2. Toshiba applied for a tax credit/refund of the unutilized input VAT which the CTA and CA approved. CIR appealed arguing Toshiba as a PEZA enterprise was VAT-exempt. 3. The Supreme Court ruled Toshiba

Author

Kayelyn Lat

Language

EN