CTA affirms denial of P3.8-M tax refund sought by Avaloq Philippines

CTA affirms denial of P3.8-M tax refund sought by Avaloq Philippines

The Court of Tax Appeals (CTA), as a full court, has upheld the denial of the P3.8-million input value-added tax (VAT) refund sought from the Bureau of Internal Revenue (BIR) by Avaloq Philippines, an affiliate of a Swiss-based firm.Appealed by Avaloq Philippines was the ruling of the CTA’s third division which denied the firm’s petition.In a 19-page decision issued last June 3 and penned by Associate Justice Lanee S. Cui-David, the CTA’s full c…