Nokia Philippines gets P27.6-million refund from Court of Tax Appeals

THE COURT of Tax Appeals has ordered the Bureau of Internal Review (BIR) to return P27.6 million to Nokia Philippines, awarding a little less than half of the company’s requested refund of nearly P58 million. nookia

The tax refund request dates to December 2011 and concerns the portion of the company’s sales eligible for 0% value-added tax (VAT). Companies with so-called zero-rated sales are permitted to claim a refund or credit on the input tax connected to the items sold, but Nokia’s full claim was initially denied by the BIR on the grounds of insufficient documentation.

Read more: B World Online

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