Connect with us

Hi, what are you looking for?


CTA affirms ruling on Carmen Copper’s refund claim


THE Court of Tax Appeals (CTA) has affirmed its ruling partially granting Carmen Copper Corp.’s efund claim representing its importations traced to zero-rated sales worth P10.59 million for the period covering July to September 2016.

In a 27-page ruling dated Jan. 10 and made public on Jan. 13, the CTA full court agreed with its second division denying the firm’s original claim worth P36.11 million since it provided invoices outside the year 2016.

“A taxpayer must not only prove the existence of a zero-rated sale but also that the zero-rated sale was issued a valid invoice,” Associate Justice Marian Ivy F. Reyes-Fajardo said in the ruling.

On Sept. 26, 2018, Carmen Copper filed its annual income value-added tax (VAT) returns and showed an excess of input taxes worth P48.24 million traced to zero-rated sales.

Under the country’s revenue code, a VAT-registered taxpayer claiming zero-rated sales must present official receipts that are attributable to a specific period.

Transactions with foreign firms outside the Philippines are entitled to zero-rated sales that do not translate to output tax. The term “zero-rated” must be written on a taxpayer’s receipts to qualify for a 0% VAT rating.

The firm filed its initial claim for refund worth the said amount with the Bureau of Internal Revenue VAT Credit Audit Division, which was partially granted in the amount of P12.13 million.

“It is clear in the National Internal Revenue Code and its implementing rules and regulations and the above-cited cases that the sale of goods must be evidenced by a sales invoice for tax purposes,” said the tax tribunal.

In a separate dissenting opinion, Associate Justice Roman G. Del Rosario said Carmen Copper’s claim should be partially granted since VAT invoices dated outside the period may be accepted in consideration of a firm.

“Owing to the exigencies in the mining industry, VAT invoices are issued after the final determination of the quantity and price of the exported minerals, which may fall outside the period of the claim,” he said.

The magistrate voted to remand the case to a CTA division to determine its refundable amount. — John Victor D. Ordoñez

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



A man types on a computer keyboard in this illustration picture taken on Feb. 28, 2013. — REUTERS/KACPER PEMPEL/FILE PHOTO WASHINGTON — The Federal...


To reach more customers across the country, Globe, the leader in Mobile, is opening assisted registration in 30 branches of leading supermarket Puregold as...


REUTERS A landmark lawsuit by the US Justice Department against Alphabet’s Google over its dominance of advertising technology could help rivals and websites that...


North Atlantic Treaty Organization/Flickr STOCKHOLM — Swedish and Finnish hopes of quickly joining NATO (North Atlantic Treaty Organization) have run into an obstacle in...


Egg vendors arrange their products for sale at a store along Blumentritt in Manila, Jan. 26. Filipinos are grappling with soaring prices of food,...


ICC prosecutor authorized to reopen Philippines drug war investigation – BusinessWorld Online ...

You May Also Like


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.