Thursday, July 25, 2024

Tag: BIR

BIR loses in tax case vs UST

July 8, 2015, 9:38 a.m. - A TECHNICALITY has prevented tax authorities from collecting P171.5 million from the University in a tax dispute involving UST Hospital.

The Court of Tax Appeals favored UST in a decision dated March 2, junking the Bureau of Internal Revenue’s (BIR) claim that UST Hospital needed to pay an extra P171.5 million in income taxes and a compromise penalty of P56,000. An audit found that the hospital failed to declare more than P700 million in income in 2006.