(5%)
ABC Corporation won a tax refund case for P50 Million.
Upon execution of the judgment and when trying to get the Tax Credit Certificates (TCC) representing the refund, the Bureau of Internal Revenue (BIR) refused to issue the TCC on the basis of the fact that the corporation is under audit by the BIR and it has a potential tax liability. Is there a valid justification for the BIR to withhold the issuance of the TCC?
Explain your answer briefly.
Showing posts with label Tax Credit Certificates (TCC). Show all posts
Showing posts with label Tax Credit Certificates (TCC). Show all posts
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