SyCipLaw’s Tax Department has prepared Tax Issues and Practical Solutions (T.I.P.S.) for January.
Please read the full text at https://tinyurl.com/SyCipLaw-JanuaryTIPS-Vol15 or https://tinyurl.com/JanuaryTIPS-Vol15.
The SyCipLaw T.I.P.S. for January covers the following tax issues:
1. What tax relief can private schools look forward to?
2. When a taxpayer with a pending protest against a deficiency business tax assessment of a local government unit (LGU) has been denied renewal of its business permit, prompting it to file a Petition for Declaratory Relief with the trial court and ask for interim relief, will the Court of Tax Appeals (CTA) have jurisdiction over a petition for certiorari questioning interlocutory orders issued by the trial court?
3. Are there exceptions to the mandatory nature of the 120-day period given to the Commissioner of Internal Revenue (CIR) to rule on an administrative claim for value-added tax (VAT) refund before a taxpayer can file a judicial claim?
4. May a supervening event suspend the two-year reglementary period to file a claim for refund of internal revenue taxes?
5. Are taxpayers required to show that services were performed in the Philippines in order to qualify for VAT zero-rating?
6. How should airline companies treat the collection and remittance of domestic/international passenger service charges, also known as terminal fees, that are integrated into the sale of airline tickets?
7. Is Documentary Stamp Tax (DST) due on the transfer of shares of stock in a Philippine company from the decedent to the heirs?