Settlement of Back-to-Back Loans Tax Cases

Ask AI

BIR REVENUE MEMORANDUM CIRCULAR NO. 12-93: Settlement of Back-to-Back Loans Tax Cases

Getting related questions...
What do you want to know about the law?
Your conversations and searches stay on your device. We do not store or track your activity on our servers. To know more about our privacy commitment see jur.ph/privacy Ask AI provides quick answers grounded in full case texts to avoid mistakes. Always verify with the original text.

Ask AI

Title Supreme Court: Settlement of Back-to-Back Loans Tax Cases

Law: Bir Revenue Memorandum Circular No. 12-93

Decision Date: Jan 18, 1993

The BIR Revenue Memorandum Circular No. 12-93 establishes an administrative policy allowing taxpayers involved in contested "back-to-back" loan tax cases to settle their deficiencies by paying the difference between disallowed interest expenses and withheld taxes, provided they comply with specific conditions by March 31, 1993.

administrative law

tax cases

interest expense

END