Can I read NDC Sale to Magsaysay Lines: No VAT on EtoBox?

NDC Sale to Magsaysay Lines: No VAT by Jonathan Yap is a document available to read on EtoBox.

What is NDC Sale to Magsaysay Lines: No VAT about?

National Development Company (NDC) is engaged in the business of leasing ships. Pursuant to a government privatization program, NDC decided to sell its shares in another company and 5 of its ships in a single transaction for P168M to Magsaysay Lines. The Bureau of Internal Revenue assessed value-added tax (VAT) on the sale, considering NDC is a VAT-registered entity. However, the Supreme Court ruled the sale was not subject to VAT because it was an isolated transaction outside NDC

Author

Jonathan Yap

Language

EN