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Pilipinas Kao vs Hon CA & BOI

PILIPINAS KAO, INC., petitioner, vs. HONORABLE COURT OF APPEALS and BOARD OF INVESTMENTS, respondents.

G.R. No. 105014 | 2001-12-18

D E C I S I O N

KAPUNAN, J.:

This is a petition for review on certiorari under Rule 45 of the Rules of Court to set aside the decision of the respondent court in CA-G.R. SP NO. 24979, titled "Pilipinas Kao, Inc. vs. Board of Investments."

In that decision, respondent Court of Appeals sustained the reduction of tax credits on net value earned and net local content applied for by petitioners in 1988 and 1989, an act of respondent Board of Investments (BOI), which petitioner assailed as invalid for a number of reasons.

The essential facts as found by the respondent court and which are not disputed are quoted hereunder:

Petitioner,...