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On November 8, 2024, President Ferdinand Marcos Jr. signed into law R.A. No. 12066, also known as the CREATE MORE Act. This legislation aims to strengthen and expand tax incentives to promote economic recovery, support enterprises, and attract foreign investments. Below are the key features of this significant legislation: Income Tax Implications Corporate Income Tax …

HIGHLIGHTS OF THE CREATE MORE LAW Read More »

Facts:Toyota Financial Services Philippines Corporation (Petitioner) was assessed deficiency taxes and fees by the City Treasurer of Davao (Respondent) for the years 2009 to 2018.The Petitioner argued that it was not doing business in Davao, only operating a “lending desk” and soliciting clients at a Toyota dealership.The Petitioner claimed that transactions were recorded and processed …

Summary of the Court of Tax Appeals Case: Toyota Financial Services Philippines Corporation vs. City of Davao Read More »