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Claim for refund of unutilized input VAT

By: Atty. Aziza Hannah Bacay on May 25,2023 SECTION 112 of the Tax Code (Republic Act [RA] 8424, as amended) states that a taxpayer may claim for refund or request for issuance of tax credit certificate for its excess unutilized input value-added tax (VAT). In computing VAT, the input tax (the...

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Breach of director’s fiduciary duty

By: Atty. Cara Angela N. Flores on April 20,2023 THE board of directors exercises the powers, conducts all business and controls all properties of a corporation (Section 22, Revised Corporation Code). Being the vessel of corporate powers, the directors have fiduciary duty toward the corporation....

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On post-importation payments and charges

By Atty. Mark Anthony P. Tamayo on March 30,2023 UNDER the present transaction value (TV) system, the duty base in valuing imported goods for customs appraisement purposes is the total payment made (or to be made by) the buyer to (or for the benefit of) the seller. The system is essentially transaction-based...

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Doctrine of Hierarchy of Courts

 By Xela Leona Laqui on March 23,2023 THE Doctrine of Hierarchy of Courts (or the Principle of Judicial Hierarchy) provides that when here, courts have concurrent or shared jurisdiction over the subject matter of a case, a litigant is not free to file a complaint or petition in any court...

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