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The petitioner, a pawnshop business, received a VAT assessment for tax year 2000 but argued it was not liable as pawnshops were considered non-bank financial intermediaries. Non-bank financial intermediaries were not subject to VAT until 2001 due to consecutive deferments of the VAT effectivity date. As the petitioner was a non-bank financial intermediary, and not subject to VAT in 2000, the Court ruled the VAT assessment for that year lacked legal basis and must be cancelled. The petitioner was entitled to

Author

Mark Gabriel B. Maranga

Language

EN