CTA affirms voiding of tax claim against mining firm

THE Court of Tax Appeals (CTA) denied for lack of merit a motion for reconsideration by the Bureau of Internal Revenue (BIR) on the cancellation of its assessment on the alleged P254.72-million tax deficiency of Coral Bay Nickel Corp. for January to March 2007. In a resolution on Feb. 6, the full court upheld its Aug. 14, 2018, decision affirming the said cancellation the previous year by CTA’s third division, which further cited as invalid a waiver which supposedly extends the period to assess Coral Bay of its alleged tax deficiencies. — Vann Marlo M. Villegas