THE COURT of Tax Appeals (CTA) has unanimously upheld Kep (Philippines) Realty Corp. in its bid for a P38.7-million refund, as it junked a Petition for Review by the Bureau of Internal Revenue (BIR), saying the petition had “no legal basis.” The CTA upheld its Second Division decision dated April 20, 2016 and resolution dated Aug. 11, 2016, that held the Cebu-based firm is entitled to the refund for its unutilized input Value-Added Tax (VAT) for the 3rd quarter of 2012. — Kristine Joy V. Patag
