Escolar Documentos
Profissional Documentos
Cultura Documentos
3. Requisites for deductibility of bad debt - Valid existing debt, worthless, charged off
within a taxable year, charged off in full or not at all / written off/ cancelled as part of
accounts receivable (partial writeoff not allowed)
It is deductible because it is already
worthless (Collector v. Goodrich)
4. Law can provide for power of LGU to tax on property. - exemption on rule for pre-
emption?
Except in those case where LGU is allowed by law to impose taxes imposed
by National government, LGU cannot levy those taxes.
(Something also to do with
Capital Gains?)
5. Yes - see Air Canada - an airplane / airline company carrying a foreign flag with no
landing rights if it sells tickets in the PH. The activity is selling the tickets - income is
derived in PH. therefore RFC.
6. Courtesy discounts are not realized income because it is relatively small value. (Fringe
beneftis / de minimis)
9. a. Requisites:
Claim for refund filed with CIR within 2 years counted from the last day
of the quarter where the zero-rated sale was made
Claim must include a statement
under oath that the sale was zero-rated
CiR was make a decision within 180 days from
filing
No decision - deemed denial
Appealable to CTA (within 30 days from lapse of
180 period or_____)
b.
Written claim for refund within 2 years from date of
payment
It must be a categorical demand for reimbursement of tax
A decision denying
the claim is appealable with 30 days from receipt - provided that the decision is within 2
year period
(within 30 days or within 2 years period, whichever comes first)
No
decision is considered denial - appealed within 2 year period
11. Buyer in good faith should be allowed to avail of the tax credit certificate
12. No, the City Assessor is not correct. The medical arts center building is an integral
part of d hospital. Thus, the correct classification is SPECIAL and not COMMERCIAL.
(Pls see City of Assessor of Cebu City vs Asso of Benevola de Cebu, G. R. No. 152904,
June 8, 2007.)
13. No, this is an effectively zero-rated sale of services. The exemption is with the buyer
and should extend to the seller because (di makapag-pass on to the seller). Since WHO
is exempt from direct and indirect taxes pursuant to an Agreement, the exemption should
mean that the exemption should include the contractor. The immunity extends to
contractor as it is an effectively zero-rated sale pursuant to law… (CIR v. John Gotangco,
In)
14. Yes, the sale from Lucky to Rainer to HSC is prompted for the mitigation of the tax
liabilities and should constitute tax evasion. Outside of lawful means allowed by law (CIR
v. Benigno Toda, Jr., 2004)
15. Qualify answer: If representation expenses should not go beyond .5% of net sales or
actual cost, whichever is lower
16. See operative fact doctrine. (Exemption to the Aichi rule)
Yes, API’s petition for
review will prosper. The petition for review falls within the exemption within the 120+30
day requirement. All claims for refund Oct. 6, 2003 until Aichi ruling must follow the BIR
ruling
17. No, the waiver was executed after VVV was assessed for income taxes to justify the
taxes assessed after prescription has set in. A waiver executed beyond prescriptive
period is ineffective (Republic v. Acevedo)
18. you’ll be entitled to claim rental expenses - seller
also, at the time of sale, it was not
used in business, it is only subjected to 6% CGT and not on the income tax (32%)
rental
income and expenses connected to leasing the property- buyer
19. In all cases where properties where transfer and located in the PH is subject to tax
irrespective of the citizenship and residency. However, if Janina is a non-resident alien at
the time of death, principle of reciprocity must be followed, being that shares is an
intangible property located in the philippines
20. Once P establishes residency and acquires citizenship, he is a resident citizen derived
within and without, certainly his income from operations derived from his supermarket in
the US will be taxed here.