Month: September 2025

COURT OF TAX APPEALS (CTA) DECISIONS   A TAX ASSESSMENT IS VOID WHEN CONDUCTED WITHOUT A VALID LOA, AS SUBSTITUTION OF REVENUE OFFICERS REQUIRES A NEW OR AMENDED LOA, NOT A MERE REASSIGNMENT NOTICE. The Court ruled that a valid Letter of Authority (LOA) is indispensable for revenue officers to

REVENUE REGULATIONS   Revenue Regulations No. 018-2025 Under the National Internal Revenue Code of 1997, as amended by the Capital Markets Efficiency Promotion Act, pick-ups are no longer exempt and are now subject to excise tax.   Applicable Excise Tax Rates Rates range from 4% to 50% based on selling