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Supreme Court

Commissioner of Internal Revenue vs. Fortune Tobacco Corp.

G.R. No. 167274-75 Jul 21, 2008

Fortune Tobacco sought a refund for overpaid excise taxes after a 12% rate increase under RA 8240. The Supreme Court ruled Revenue Regulation No. 17-99 invalid, affirming refund entitlement based on net retail price.

tax refund tax credit rules and regulations

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