Tax Credit or Refund

Prescriptive Period
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Karmela Mirriam Ebreo

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1. 2. 3.

erroneously or illegally assessed or collected, penalty claimed to have been collected without authority, any sum alleged to have been excessively or in any manner wrongfully collected without authority,

4.

any sum alleged to have been excessively or in any manner wrongfully collected,

SECTION 229 RA 8424 Recovery Of Tax Erroneously Or Illegally Collected

In what instances can a claim for tax credit or | refund be made?

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filing a claim for refund or credit with the Commissioner

such suit or proceeding may be maintained, whether or not such tax, penalty, or sum has been paid under protest or duress.

SECTION 229 RA 8424 Recovery Of Tax Erroneously Or Illegally Collected

How can a claim for tax credit or refund be | made?

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In any case, no such suit or proceeding shall be filed after the expiration of two (2) years from the date of payment of the tax or penalty regardless of any supervening cause that may arise after payment: Provided, however, That the Commissioner may, even without a written claim therefor, refund or credit any tax, where on the face of the return upon which payment was made, such payment appears clearly to have been erroneously paid.

SECTION 229 RA 8424 Recovery Of Tax Erroneously Or Illegally Collected

When can a claim for tax credit or refund be | made?

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Provided, however, That a return filed showing an overpayment shall be considered as a written claim for credit or refund. SECTION 204(c)

Provided, however, That the Commissioner may, even without a written claim therefor, refund or credit any tax, where on the face of the return upon which payment was made, such payment appears clearly to have been erroneously

paid. SECTION 229

SECTION 204(c) RA 8424

Authority of the Commissioner to Compromise, Abate and Refund or Credit Taxes

SECTION 229 RA 8424

Recovery Of Tax Erroneously Or Illegally Collected

C a n a C o m m i s s i o n e r re f u n d o r c re d i t a n y t a x p a i d e v e n i f t h e taxpayer failed or did not file a claim for such? |

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1. Corporate Income Tax 2. Income Tax Paid in Installments

3. Withholding Tax
4. Value Added Tax

Exceptions to the rule that a claim for refund or credit be made within 2 years from date o f p a y m e n t o f t a x o r p e n|a l t y
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Section 229, NIRC until a claim for refund or credit has been duly filed with the Commissioner

-gives the Commissioner an opportunity to consider the claim and correct the errors of his subordinates -notifies the government that the taxes have been questioned

Mandatory filing of written claim |

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Person against whom the tax is imposed by the statute

Person to file the claim of refund or credit

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Laws prescribing the method of obtaining a tax refund or credit and the requirements for entitlement to said remedy are procedural laws and, therefore, can be applied retrospectively to actions still pending and undetermined at the time the law was passed.

Retrospective application
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Thank you
Taxation Law Review University of Batangas

|
P: 555.123.4568 F: 555.123.4567 123 West Main Street, New York, P: 555.123.4568 F: 555.123.4567 NY 10001 123 West Main Street, New York, NY 10001

Karmela Mirriam Ebreo

www.rightcare.com

www.rightcare.com