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What is Tax Deduction Ruling on Promotional Fees about?

The CIR disallowed a P75,000 deduction claimed by Algue Inc. for promotional fees paid for services helping to form a corporation that purchased properties from another company. The Court of Tax Appeals sided with Algue Inc., finding the fees were legitimate business expenses. The Supreme Court agreed, noting the fees were 60% of Algue

Author

fay garneth buscato

Language

EN