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MANILA - The Court of Tax Appeals (CTA) ruled in favor of the government and against cigarette manufacturerPhilip Morris - Fortune Tobacco Corporation (PMFTC) Inc.'s excise tax refund claim for the PHP2.7 billion it paid in 2014 and 2015 for packs containing less than 20 sticks. The tribunal "has no recourse but to dismiss the petition considering that the two-year prescriptive period (under the Tax Code) is not only mandatory but is also jurisdictional," stated the November 25 decision penned by Associate Justice Juanito Castaneda Jr. of the CTA 2nd Division. Jurisdiction refers...

MANILA - The Court of Tax Appeals (CTA) ruled in favor of the government and against cigarette manufacturer PMFTC, Inc.'s excise tax refund claim for the PHP2.7 billion it paid in 2014 and 2015 for packs containing less than 20 sticks. The tribunal "has no recourse but to dismiss the petition considering that the two-year prescriptive period (under the Tax Code) is not only mandatory but is also jurisdictional," stated the November 25 decision penned by Associate Justice Juanito Castaneda Jr. of the CTA 2nd Division. Jurisdiction refers to the power of a court to decide on a part...