Education

Only available on StudyMode
  • Download(s) : 87
  • Published : January 30, 2013
Open Document
Text Preview
National Capital Region (NCR)

Court junks liquor makers' bid to halt increase in excise taxes

MANILA - A local court on January 16 denied liquor makers' bid to halt the implementation of rules raising excise taxes on distilled spirits, the Bureau of Internal Revenue (BIR) said on Thursday. In a statement, the BIR said the regional trial court (RTC) in the National Capital Region (NCR) denied a petition for a temporary restraining order (TRO) filed by the Distilled Spirits Association of the Philippines, Destileria Limtuaco & Co, Emperador Distillers Inc and Tanduay Distillers. The BIR said the court backed the bureau's arguments and denied the petition for a TRO on two grounds: - The absence of court authority to issue injunctions to restrain the collection of taxes; and - The absence of the petitioners’ clear legal right to be protected over the right of the state to collect taxes. The RTC said courts do not have authority to grant an injunction or TRO to restrain the collection of taxes as provided under Section 218 of the National Internal Revenue Code (NIRC). A preliminary injunction or TRO may be issued only in the existence of a clear and unmistakable right to be protected, and an urgent necessity to prevent serious damages, the court said. The petitioners claimed that the sale of alcoholic beverages may be considered a property right, citing the constitutional provision on the protection of life, liberty, and property. But the court countered that the taxpayers’ property right should take a back seat in favor of the state’s “paramount” need to generate funds to sustain its functions. The petitioners also contended that they would suffer “irreparable” damage if the implementation were to take place, referring to Section 12 (c) of Revenue Regulations No. 17-2012. "The BIR stands by its position which the court has affirmed. The petitioners will not incur irreparable damages if the law is implemented,“ BIR Commissioner Kim Jacinto-Henares said. Hearings on the preliminary injunction will be conducted next month.  

http://www.interaksyon.com/business/52957/court-junks-liquor-makers-bid-to-halt-increase-in-excise-taxes

-------------------------------------------------
Educomp Solutions stock tanks 19%

Educomp Solutions stock nosedived on the bourses today, extending the steep fall of the previous session after the Income Tax Department conducted searches at the premises of the education solutions provider in the NCR for alleged tax evasion. Shares of the company plunged by 18.92 per cent in morning trade to a 52-week low of Rs 190 on the Bombay Stock Exchange. In a similar fashion, the stock tanked by over 11 per cent to a one-year low of Rs 208.70 on the National Stock Exchange. In the previous trading session, the stock lost up to 14 per cent on the bourses. The premises of three companies-- Educomp Solutions, Educomp Infrastructure School Management and Educomp Private Services -- were searched by officials of the Income tax Department. The search operation was conducted at 14 premises of the companies in Faridabad, Gurgaon and other parts of the National Capital Region (NCR). The stock was later trading at Rs 212.15 apiece, down 9.47 per cent from its previous close on the BSE at 1105 hours.

Cordillera Administrative Region (CAR)

BIR Southern Leyte files charges against tax evaders
Posted by Jani Arnaiz, Chief Editor on September 21, 2011, 5:31 pm By ES Gorne
MAASIN CITY, Southern Leyte, Sept 21 -- The Bureau of Internal Revenue (BIR) Southern Leyte field office has filed tax evasion case against a lawyer and would file more cases against professionals, who are evading payment of income taxes this year. The case of a lawyer based in Sogod, this province, has been elevated to the legal division at the BIR regional office, Assistant Revenue District Officer Carlos Tambal disclosed to PIA – So. Leyte in a phone interview. According to Tambal, the lawyer has not been paying the annual income tax,...
tracking img