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Conwi v. Court of Tax Appeals, G.R. No. 48532, August 31, 1992 by zac is a document available to read on EtoBox.

This document summarizes a Supreme Court of the Philippines decision regarding the appropriate exchange rate to use when converting foreign earnings to Philippine pesos for income tax purposes. The petitioners, who earned dollars working abroad for a Philippine subsidiary of Procter & Gamble, argued that their foreign earnings should be converted using the par value of the peso rather than the prevailing market exchange rate. The Court ruled that the Secretary of Finance has authority to promulgate rules on

Author

zac

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EN