Case digest PHILIPPINE BANK OF COMMUNICATIONS VS. CIR - Decisions

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PHILIPPINE BANK OF COMMUNICATIONS VS. CIR

Ponente: SERENO, C.J.

Decision Date: 2016-06-20

GR Number: G.R. No. 194065

Digest Team 4 months ago

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Summary:

This case involves a petition for review filed by the Philippine Bank of Communications (petitioner) against the Commissioner of Internal Revenue (respondent). The petitioner sought a refund or tax credit for the allegedly erroneously paid documentary stamp tax (DST) on repurchase agreements executed with the Bangko Sentral ng Pilipinas (BSP). The Court of Tax Appeals (CTA) Second Division ruled in favor of the petitioner, finding that the repurchase agreements were exempt from DST. However, the CTA En Banc ruled that the DST was deemed paid upon the purchase of documentary stamps for loading and reloading on the electronic documentary stamp metering machine (DS metering machine). The issue in this case is whether the date of imprinting the documentary stamps on the document or the date of purchase of documentary stamps for loading and reloading on the DS metering machine should be considered as payment of the DST for the purpose of counting the two-year prescriptive period for filing a claim for a refund or tax credit.

Doctrine:

The payment of the DST and the filing of the DST declaration return upon loading or reloading of the DS metering machine should not be considered as the "date of payment" for the purpose of filing a claim for a refund or tax credit. The liability for the payment of the DST falls due only upon the occurrence of a taxable transaction. Therefore, the date of imprinting the documentary stamp on the taxable document should be considered as the date of payment contemplated under Section 229 of the National Internal Revenue Code (NIRC).

Facts:

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Issues Ratio:

Dispositive:

Other Notes:

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