Published January 9, 2021, 12:25 PM
The Court of Tax Appeals (CTA) has approved the compromise agreement between the Bureau of Internal Revenue (BIR) and Green Cross Inc. for the settlement of Green Cross’ P195-million tax liabilities.
BIR Commissioner Caesar Dulay accepted the P80-million offer of the alcohol company scrapping all its excise and income tax debts incurred in 2013 and 2014.
The payment, comprising 43 percent of total liabilities, was in addition to other penalties that the company agreed to settle.
The parties agreed to end the dispute out of court to avoid costly and protracted litigation.
Associate Justice Erlinda Uy of the court’s Third Division approved the compromise accord in a 14-page decision.