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The end game: SC voids restricting bank tax deductions

The end game: SC voids restricting bank tax deductions
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SC voids DOF order limiting banks' deductions

THE Supreme Court has declared void for being issued beyond its authority a 2011 revenue regulation of the Department of Finance (DOF) that limited the allowable deductions for costs and expenses of banks and other financial institutions for purposes of computing taxable income. The 22-page decision penned by Associate Justice Rodil Zalameda… ....

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