DAKUDAO & SONS, INC., Petitioner CTA Case No. 8501 Members: -versus-CASTANEDA, JR., Chairperson CASANOVA, and COTANGCO-MANALASTAS,J~ COMMISSIONER OF INTERNAL REVENUE.
FACTS:
Petitioner owned two (2) parcels of land located in Davao City. On December 20, 2011, petitioner paid the BIR the amount of
P112,140,000.00 for the VAT of said transfer. Petitioner however alleged that since the transfer of the subject parcels of land was made in exchange for shares of stock to a controlled corporation, its payment of VAT was erroneous and/or excessive. Thus, on May 2, 2012, petitioner filed an administrative claim for VAT refund with the BIR. On June 11, 2012, petitioner filed the instant Petition for Review pursuant to Sections 204(C) and 229 of the National Internal Revenue Code (NIRC) of 1997, as amended.
P112,140,000.00 for the VAT of said transfer. Petitioner however alleged that since the transfer of the subject parcels of land was made in exchange for shares of stock to a controlled corporation, its payment of VAT was erroneous and/or excessive. Thus, on May 2, 2012, petitioner filed an administrative claim for VAT refund with the BIR. On June 11, 2012, petitioner filed the instant Petition for Review pursuant to Sections 204(C) and 229 of the National Internal Revenue Code (NIRC) of 1997, as amended.
ISSUE:
Whether Petitioner's claim for refund was filed within the period prescribed by law.
RULING:
Yes, Pursuant to Sections 204(C) and 229, and as held in several cases, a taxpayer is given a period of two (2) years from payment of tax within which to file a refund, regardless of any supervening cause that may arise.
In the instant case, petitioner remitted its VAT Payment Form (BIR Form No. 0605)37 together with the BTR-BIR Payment Slip38 in the amount of P112,140,000.00 on December 20, 2011. Counting the two-year period from the date of payment of the tax, petitioner had until December 20, 2013 within which to pursue its claim in both administrative and judicial levels. Perusal of the case records shows that petitioner filed its administrative claim for VAT refund on May 2, 2012, and its judicial claim via Petition for Review on June 11, 2012. Accordingly, both claims fall squarely within the period prescribed by law.
Yes, Pursuant to Sections 204(C) and 229, and as held in several cases, a taxpayer is given a period of two (2) years from payment of tax within which to file a refund, regardless of any supervening cause that may arise.
In the instant case, petitioner remitted its VAT Payment Form (BIR Form No. 0605)37 together with the BTR-BIR Payment Slip38 in the amount of P112,140,000.00 on December 20, 2011. Counting the two-year period from the date of payment of the tax, petitioner had until December 20, 2013 within which to pursue its claim in both administrative and judicial levels. Perusal of the case records shows that petitioner filed its administrative claim for VAT refund on May 2, 2012, and its judicial claim via Petition for Review on June 11, 2012. Accordingly, both claims fall squarely within the period prescribed by law.
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