Latest Breaking News On - 020 decision had canceled the formal letter of demand fld issued by officials bureau internal revenue bir against firm in nullifying assessment - Page 1 : comparemela.com

MANILA - The Court of Tax Appeals (CTA) has nullified a tax assessment of PHP9.6 million against an insurance brokerage firm, citing lapses made in the procedure for the assessment. In an en banc decision dated June 20 penned by Associate Justice Roman del Rosario, the tax court affirmed an earlier decision by its Third Division voiding the tax assessment for deficiency income tax, value-added tax, and expanded withholding tax for the year ending in 2011 against Tektite Insurance Brokers Inc. The tax court's third division in its June 25, 2020 decision had canceled the formal letter of demand (FLD) issued by officials of the Bureau of Internal Revenue (BIR) against the firm. In nullifying the assessment, the tax court noted that the firm had been deprived of due process and there had been no opportunity for the firm to first contest the assessment before the issuance of the FLD. The court noted that revenue officials issued the FLD or Final Assessment Notice (FAN) on Jan. 9, 2015,

Tektite insurance brokers incThird divisionBureau of internal revenueTax appealsAssociate justice roman del rosarioTektite insurance brokersInternal revenueFinal assessment noticePreliminary assessment noticeManila the court of tax appeals cta has nullifieda assessment php9 6 million against an insurance brokerage firmIting lapses made in the procedure for assessment an en banc decision dated june 20 penned by associate justice roman del rosarioHe tax court affirmed an earlier decision by its third division voiding the assessment for deficiency incomeValue added taxNd expanded withholding tax for the year ending in 2011 against tektite insurance brokers inc court 39s third division its june 25020 decision had canceled the formal letter of demand fld issued by officials bureau internal revenue bir against firm in nullifying assessmentHe tax court noted that the firm had been deprived of due process and there no opportunity for to first contest assessment before issuance fld revenue officials issued or final notice fan on jan 9