MANILA – The Court of Tax Appeals (CTA) has directed revenue officials to refund PHP92.058 million to the local arm of an international mineral mining firm.
In a 37-page decision dated April 25 and written by Associate Justice Marian Ivy Reyes-Fajardo, the tax court’s first division partially granted the petition of gold and copper mining firm Oceanagold (Philippines) Inc.\ for a refund of excess value added tax (VAT) paid for 2017.
The refund claim had earlier been turned down by the Bureau of Internal Revenue (BIR) citing that the firm had failed to substantiate its claim at the administrative level.
The firm had originally filed an application for a refund before the BIR VAT Credit Audit Division for PHP98,075,861 million on March 29, 2019. The BIR denied the administrative claim in June of that year prompting the firm to take it to the CTA.
In partially granting the petition, the tax court said the firm “partially complied with the requisites under the law for the refund or issuance of tax credit certificate of input VAT.” (PNA)
