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What is CIR vs. Phoenix Assurance Tax Dispute about?

Phoenix Assurance Co., an insurance company operating in the Philippines, filed its original income tax return for 1952 reporting a loss. It later filed an amended return for 1952 reporting tax due. The Commissioner assessed additional tax based on the amended return more than 5 years after the original return but within 5 years of the amended return. The Court held that the prescriptive period begins from the filing of the amended return, not the original, as the amended return substantially altered the in

Author

Jelissa Galvez

Language

EN