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MANILA - The Court of Tax Appeals (CTA) has affirmed the grant of a tax credit to the Kuwait Airways Corp. for PHP11.97 million representing its overpaid income tax for the year ending March 2016. In its 24-page decision dated June 16 and written by Associate Justice Lanee Cui-David, the tax court en banc affirmed the May 2021 decision of the CTA's Second Division on the case. The CTA en banc said no new or substantial arguments were made by the parties to persuade the tribunal to reverse the findings of the second division. In its May 2021 decision, the tax court's Second Division partially granted the firm's petition and ordered the issuance of the tax credit certificate (TCC). The amount represents overpaid income taxes on its Gross Philippine Billings (GPBs) for the year 2016. GPB refers to the amount of gross revenue derived from the carriage of persons, excess baggage, cargo, and mail originating from the Philippines in a continuous and uninterrupted flight, irrespect

Ad daw ahUnited arab emiratesSaudi arabiaCity ofUnited kingdomAbu dhabiKuwait airwaysKuwait airways corpSecond divisionTax appealsAssociate justice lanee cui davidGross philippine billingsManila the court of tax appeals cta has affirmed grant ofa credit to kuwait airways corp for php11 97 million representing its overpaid income year ending march 2016 in 24 page decision dated june 16 and written by associate justice lanee cui davidHe tax court en banc affirmed the may 2021 decision of cta 39s second division on case said no new or substantial arguments were made by parties to persuade tribunal reverse findings in itsHe tax court 39s second division partially granted the firm petition and ordered issuance of credit certificate tcc amount represents overpaid income taxes on its gross philippine billings gpbs for year 2016 gpb refers to revenue derived from carriage personsExcess baggage