court of tax appeals

BIR told to refund Php 63.25 M to Belle

Here's an article from Philippine Star correspondent, Elizabeth Marcelo re a controversial issue regarding a Bureau of Internal Revenue regulation.  Take note of the last paragraph on the definition of Capital Gains Tax, it has been sometime since we have been questioning this ruling as the tax imposed on the sale of a property doesn't necessarily mean a gain on the sale of a Capital Asset.  I've...

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