The Firm advises clients on both litigious and non-litigious tax issues. On litigious issues, the Firm represents several multinational companies, mostly before the Bureau of Internal Revenue and the Court of Tax Appeals on tax refund issues and deficiency assessments.
Our experiences include:
- Representing a client before the Court of Tax Appeals involving its clam for refund of erroneously capital gains taxes worth USD 33 million in relation to a novel tax issue on mergers and the doctrine of further control;
- Handling a tax assessment case for a Fortune 500 cement manufacturing company involving a USD 40 million tax assessment before the Bureau of Internal Revenue. The assessment involved the imposition of deficiency income tax, VAT, withholding tax, excise tax and documentary stamp tax;
- Handling a tax assessment for a Fortune 500 cement manufacturing company involving the availment of Income Tax Holiday incentives worth USD 20 million;
- Representing an airline at the Court of Tax Appeals on a novel tax issue involving the carrier’s claim for refund on excise taxes paid on imported fuel which is destined for use in domestic flight operations;
- For an electric power producer, appearing before the Supreme Court in a case involving the interpretation of the Tax Code provisions on VAT zero-rating, one of the first cases to reach the High Court on the subject;
- For an electricity generation company, handling an aggregate of USD 20 million in VATrefund claims arising from VAT zero-rated sales or zero-rated importation of capital goods;
- For Project EMERGE of the USAID, through the Financial Executives of the Philippines, conducting a study on taxation of banks, insurance companies, pre-need companies, and other players in the financial sector to assess instances of tax arbitrage and to promote a tax-neutral financial environment for these industries; and
- On non-litigious issues, advising clients on transfer pricing issues in the manufacturing industry transition to a computerized commercial and accounting system which allows for electronic filing of sales receipts with the BIR. The Firm provided advice and guidance to clients on the nuances of the Voluntary Assessment Program (VAP) and No Audit Program(NAP), a tax awareness program of the Philippine Government. We have a good track record in securing tax incentives and tax holidays for our clients, which range from investors to non-profit institutions. Likewise, it serves as legal adviser to the Bankers Association of the Philippines with regard to all industry matters including the implications to the banking industry of the amendments to the Philippine tax law, otherwise known as the Tax Reform for Acceleration and Inclusion (“TRAIN”).