Back

Commissioner Of Internal Revenue Vs. Wyeth Suaco Laboratories, Inc., Et Al.

COMMISSIONER OF INTERNAL REVENUE, petitioner, vs. WYETH SUACO LABORATORIES, INC. and THE COURT OF TAX APPEALS, respondents.

G.R. No. 76281 | 1991-09-30

D E C I S I O N


FERNAN, J.:

The sole issue in this petition for review on certiorari is whether or not petitioner's right to collect deficiency withholding tax at source and sales tax liabilities from private respondent is barred by prescription.

The antecedent facts are as follows:

Private respondent Wyeth Suaco Laboratories, Inc. (Wyeth Suaco for brevity) is a domestic corporation engaged in the manufacture and sale of assorted pharmaceutical and nutritional products. Its accounting period is on a fiscal year basis ending October 31 of every year.

By virtue of Letter of Authority No. 52415 dated June 17, 1974 issued by then...