High Court junks power firm’s claim for P560-M tax refund

THE Supreme Court (SC) has denied with finality the claim of San Roque Power Corp. for a P560-million tax refund in connection with its unused input value-added tax on the purchase of capital goods and services in 2001.

Voting 8-7, the court en banc rejected the motion for reconsideration filed by San Roque as it affirmed its ruling reversing the earlier verdict of the Court of Tax Appeals which granted its claim on an adjusted amount of P483,797,5499.