Dec 092015
In 2013, when the Supreme Court rendered a decision imposing 20% delinquency interest on a taxpayer that was under audit by the Bureau of Internal Revenue (BIR), the act of computing for penalty interest on taxes certainly became more interesting, to say the least.
In September, the Court of Tax Appeals (CTA) sitting en banc issued a decision that will make things even more interesting. If the Supreme Court decision didn’t pique your interest two years ago, this one certainly will.