Philippines Court of Tax Appeals Overturns Alleged Tax Deficiencies by Wipro Philippines Inc

The Philippine Court of Tax Appeals April 22 issued a decision in CTA Case No. 10329, granting Wipro Philippines Inc.’s (Wipro’s) appeal of alleged tax payment deficiencies. Following an audit of Wipro’s accounts for the 2015 tax period, the Commissioner of Revenue issued final notices of tax deficiencies for income tax (IT), withholding tax on compensation (WTC), expanded withholding tax (EWT), and final withholding tax (FWT). The taxpayer appealed the assessment, citing entitlement to an income tax holiday (ITH) for the covered revenue. The Court of Tax Appeals agreed with Wipro and overturned the alleged tax deficiencies, stating that: 1) ...