G.R. No. 151413 - Cagayan Valley Drug Corp. vs. Commissioner of Internal Revenue

Cagayan Valley Drug Corp. vs. Commissioner of Internal Revenue

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Title Supreme Court: Cagayan Valley Drug Corp. vs. Commissioner of Internal Revenue

Case: G.R. No. 151413

Decision Date: Feb 13, 2008

Petitioner, a drug retailer, claimed a tax credit for senior citizen discounts under RA 7432. SC ruled in favor, granting a PhP 123,083 tax credit despite net loss, nullifying RR 2-94.

tax credit

sales discount

senior citizens

Standard 14 min

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