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Red Ribbon Bakeshop Opens its 33rd US Store Bringing Its Cakes and Signature Baked Goods to Milpitas, California on September 25, 2021
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Red Ribbon Bakeshop Opens its 33rd US Store Bringing Its Cakes and Signature Baked Goods to Milpitas, California on September 25, 2021
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Court of Tax Appeals
(MANILA BULLETIN)
The BIR’s Large Taxpayers Service (LTS) said Red Ribbon Bakeshop had under declared its purchases in 2009, thus cutting income and value-added tax payments.
The court’s Third Division, however, voided the assessment as the LTS did not follow the procedure prescribed by Revenue Memorandum Order 43-90 on how an audit should be conducted.
The guideline which implemented Section 6 of the Tax Code requires revenue officers to first secure a non-transferable Letter of Authority (LA) to investigate duly signed by the authorized representative of the BIR commissioner before he can look into the books of accounts of a taxpayer.
Court drops P172-M tax assessment vs. Red Ribbon
Published 3 months ago
MANILA – The Court of Tax Appeals (CTA) has ruled in favor of local food firm Red Ribbon Bakeshop Inc. in a case for disputed tax assessment dating back to 2009 for lack of sufficient authority of the revenue personnel who audited the firm.
In a 17-page decision dated Jan. 7 and made public Friday, the court’s Third Division canceled a tax assessment for income tax and value-added tax deficiency in July 2015 on the firm for PHP172.23 million.
The court noted that revenue officers who conducted the audit investigation are not authorized through a letter of authority (LOA) and “thus, the resulting assessment is void.”
4:09 pm
Red Ribbon has been a part of Filipinos special occasions, where its truly delightful cakes have made family celebrations and gifting moments more special. Not only that, their delectable Butter Mamon, Cheesy Ensaimada, Taisan, and Moist Choco Cake Slice have been well-loved too–for snacks, school baons, and as pasalubongs to kids and loved-ones.
But aside from all these sweet treats, we, Filipinos also love our breads, a dining table staple during breakfast as paired with a hot cup of coffee; enjoyed with spaghetti and other noodle dishes like pancit; and of course, during
merienda with our fave
palaman and a cool, refreshing drink on the side.
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