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What is Tax Treatment of PEACe Bonds Case about?

This case involves a petition filed by several banks challenging a 2011 BIR Ruling that declared treasury bonds issued by the Bureau of Treasury as subject to a 20% final withholding tax. The petitioners argued that the retroactive application of the ruling without prior notice violated their rights. The respondents contended the petition should be dismissed due to failure to follow the doctrine of exhaustion of administrative remedies and hierarchy of courts. The Supreme Court agreed the petitioners violat

Author

Angel Phyllis Prias

Language

EN