PETRON CORPORATION v. COMMISSIONER OF INTERNAL REVENUE

CTA Fom1 No. 8 (For DCC) 111111111111 1111111111 11111111111111111111 11111111111111111111111111111111111111 23-000625-0027 REPUBLIC OF THE PHILIPPINES COURT OF TAX APPEALS QUEZON CITY FIRST DIVISION CTA CASE NO. 11364 PETRON CORPORATION, Petitioner, -versus- NOTICE OF RESOLUTION COMMISSIONER OF INTERNAL REVENUE, Respondent. To: OFFICE OF THE SOLICITOR GENERAL 134 Amorsolo Street, Legazpi Village Makati City ATTY. AYESHA HANIA B. GUILING-MATANOG ATTY. CLARISSA J. VIRTUDES-BABARAN Bureau of Internal Revenue Room 703, Litigation Division, BIR National Office Buildling Sen. Miriam P. Defensor-Santiago Avenue Diliman, Quezon City DU-BALADAD AND ASSOCIATES 20th Floor, Chatham House Bldg. Valero Cor. Rufino Streets, Salcedo Village, Makati City GREETINGS: You are hereby notified by these presents that on September 12, 2024, a Resolution was rendered in the above-entitled case, copy of which is attached hereto. Quezon City, Philippines, September 13, 2024. Atty. Mar Executiv

REPUBLIC OF THE PHILIPPINES COURT OF TAX APPEALS Quezon City FIRST DIVISION PETRON CORPORATION, CTA CASE NO. 11364 Petitioner, Members: -versus- DEL ROSARIO, P.J. , Chairperson, BACORRO-VILLENA, and CUI-DAVID, JJ. COMMISSIONER OF INTERNAL REVENUE, PSrEoPmu1lg~ ated: c;.rzoA~1t1 Respondent. X- --- ---------- - - - --------------- ~ ------------X RESOLUTION For the Court's resolution is petitioner Petron Corporation's (petitioner's/Petron 's) "Motion to Withdraw Petition for Review (with Motion to Cancel Scheduled Hearings)" (Motion to Withdraw) filed on 04 July 2024, with respondent Commissioner of Internal Revenue's (respondent's/CIR's) "Comment" filed on 19 July 2024. Earlier, in a Minute Resolution dated 01 August 2024, this Court noted respondent's Comment. submitted petitioner's Motion to Withdraw for resolution , and cancelled the hearings scheduled for 22 August 2024, 03 October 2024 and 14 January 2025. In its Motion to Withdraw, petitioner informed this Court that, subsequent to the filing of its Petition for Review, the Bureau of Internal Revenue (BIR), in a Letter dated 17 April 20241, approved its administrative claim for a refund in the amount of P25, 154,673.35, which substantially covers the refund claim subject of this case (F>=25,553,412.35).2 This claim arose from the erroneous payment of excise taxes on imported LPG that was later sold to tax-exempt entities during the period from 01 January 2022 to 31 December 2022. Annex '�A'' to Petit ioner's �'Motion to Withdraw Petition for Review (with Motion to Cancel Scheduled Hearings)". Difference of only P398,739.00.

RESOLUTION CTA CASE NO. 11364 Petro n Corporation v. Commissioner of Internal Revenue Page 2 of2 x- -------- --- - - - ---- - - -------------------- - - -- x Petitioner also informed the Court that the Bureau of Customs (BOC), through the Chairman of the Tax Credit Committee, Atty. Clarence S. Dizon, issued a Tax Credit Certificate (TCC) dated 18 June 20243, confirming the SIR's approval of its excise tax refund in the amount of P25,154,673.35. In his or her Comment, respondent interposes no objection to the withdrawal of the case and submits the action thereof to the discretion of this Court. WITH THE FOREGOING, finding petitioner's Motion to Withdraw to be in order, and considering that it is petitioner's prerogative to withdraw its own Petition for Review, with no objection from respondent, the same is hereby GRANTED. Accordingly, the instant Petition for Review filed on 22 December 2023 is hereby WITHDRAWN and the above-captioned case is now CLOSED and TERMINATED. SO ORDERED. Presiding Justice ( JEAN MA ciate Justice ~'ttn;R LANEE S. CUI-DAVID Associate Justice Annex �' B" to Petitioner's �'Motion to Withdraw Petition for Review (with Motion to Cancel Schedu led Hearings)".