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Showing 1–2 of 2 articles for “tax assumption”

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Jun 5, 2017 tax law tax assumption tax exemption international agreements branch profit remittance tax mitsubishi

Tax Assumption vs. Tax Exemption: Who Pays When International Agreements Are Involved

The Supreme Court clarifies the difference between tax assumption and tax exemption in Mitsubishi Corporation v. CIR, and who bears the tax burden.

Jun 4, 2017 tax law tax assumption tax exemption executive agreements bir refunds international agreements

Tax Assumption vs. Tax Exemption: The Mitsubishi Ruling on Government-Promised Tax Relief

The Supreme Court clarifies when a government's promise to assume taxes binds the state—and when it doesn't—in this landmark Philippine tax case.