Genalyn Kabiling

Nov 14, 2023 | mb.com.ph | Aaron B. Recuenco |Ellalyn De Vera-Ruiz |Genalyn Kabiling

San Miguel Corp. (SMC) has lost a P30 million tax refund claim to the Bureau of Internal Revenue (BIR), Revenue Commissioner Romeo D. Lumagui announced. The BIR chief said the Supreme Court (SC) ruled that SMC was not eligible for a refund of its documentary stamp tax (DST) on inter-company advances from 2009, citing Section 179 of the Tax Code. The high court held that a 2011 case law did not prejudice SMC, emphasizing it merely interpreted a tax law in effect since December 23, 1993.