P&G beats BIR, wins P84M tax refund
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P&G beats BIR, wins P84M tax refund

The Second Division of the Court of Tax Appeals has ordered the Bureau of Internal Revenue to refund or issue a tax credit certificate to Procter & Gamble Distributing Philippines.

In a July 22 decision, the CTA said P&G was entitled to a refund because it did not use or carry over to the next year its excess creditable withholding taxes (CWT) from July 2015 to June 2016.

But the CTA did not grant the entire P105.367 million refund sought by P&G.

CTA said P&G was only entitled to P84.365 million in refund after P21 million was disallowed because the petitioner failed to show proof that these transactions were made within the taxable year in 2016.

The decision was penned by Associate Justice Jean Marie Bacorro-Villena and concurred by Associate Justice Juanito Castaneda Jr.

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