The Court of Tax Appeals (CTA) has affirmed its ruling that canceled Titanium Corp.’s tax liabilities worth P9.22 million inclusive of interests for the taxable year 2011. READ:
THE Court of Tax Appeals has affirmed its ruling that canceled Titanium Corp.’s tax liabilities worth P9.22 million inclusive of interests for the taxable year 2011.
“A party’s fundamental right to due process includes the right to be informed of the various issues involved in a proceeding and the reasons for the decision rendered by the quasi-judicial agency,” Associate Justice Lanee S. Cui-David said in the ruling. In a 2020 resolution, the CTA Third Division voided the tax assessment representing the firm’s alleged deficiency income tax, value-added tax, extended withholding tax, withholding tax on compensation, and documentary stamp tax for 2011.
The CIR argued that it duly notified the firm of the factual and legal basis of its issuance of the subject tax assessment. The official said the firm was able to file its protest but did not present any relevant documents to support its defenses against the deficiency tax findings.
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