This case has been cited 1 times or more.
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2014-11-19 |
LEONARDO-DE CASTRO, J. |
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| The Court En Banc in its Resolution in G.R. No. 173425 likewise discussed the question of prior payment of taxes as a prerequisite before a taxpayer could avail of the transitional input tax credit. The Court found that petitioner is entitled to the 8% transitional input tax credit, and clearly said that the fact that petitioner acquired the Global City property under a tax-free transaction makes no difference as prior payment of taxes is not a prerequisite.[123] We quote pertinent portions of the resolution below: This argument has long been settled. To reiterate, prior payment of taxes is not necessary before a taxpayer could avail of the 8% transitional input tax credit. This position is solidly supported by law and jurisprudence, viz.: | |||||