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Central Equity Rural Bank, Inc. vs. CIR

CENTRAL EQUITY RURAL BANK, INC., petitioner, vs. COMMISSIONER OF INTERNAL REVENUE, respondent.

CTA Case No. 5907 | 2000-07-06

[C.T.A. CASE NO. 5907. July 6, 2000.]

CENTRAL EQUITY RURAL BANK, INC., petitioner, vs. COMMISSIONER OF INTERNAL REVENUE, respondent.

DECISION

This is a judicial claim for refund of percentage taxes in the total amount of P38,937.81 alleged to be erroneously paid by the Petitioner for the second and third quarters of 1997.

The facts as simplified by the Petitioner and Respondent in their Joint Stipulation of Facts:

1) That on February 24, 1997, Petitioner applied for registration with the Securities and Exchange Commission as a rural banking institution as shown by its Articles of Incorporation and By-Laws;

2) That Petitioner was issued a...