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SMI-ED vs. CIR: Tax Refund Dispute by Anny Yanong is a document available to read on EtoBox.

What is SMI-ED vs. CIR: Tax Refund Dispute about?

1) SMI-Ed Philippines, a PEZA-registered corporation, sold its buildings, machinery, and equipment after dissolving in 2000 and paid over 44 million pesos in final taxes. It filed for a refund that was denied by the CTA. 2) The Supreme Court ruled that only gains from land and building sales could be taxed at 6% capital gains, while machinery and equipment sales were subject to normal corporate income tax. SMI-Ed was ordered refunded the final tax paid less any capital gains tax owed. 3) As more than a

Author

Anny Yanong

Language

EN