THE Supreme Court has upheld the partial refund of CE Casecnan Water and Energy Co., Inc. worth P19.22 million representing its excess value-added tax traced to zero-rated sales for the taxable year 2008.
“It is clear in this case that the respondent sufficiently discharged the burden of complying with tax refund procedures, and has duly complied with the requirements under the law.” It noted that the firm’s sale of generated power to the National Irrigation Administration qualified for zero-rated VAT.
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