Metropolitan Bank & Trust Company vs The Commissioner of Internal Revenue G.R. No. 182582 April 17, 2017

Facts: On June 5, 1997, Solidbank Corporation (Solidbank) extended a foreign currency denominated loan to Luzon Hydro Corporation (LHC), in the principal amount of US$123,780,000.00. With the agreement that LHC is bound to shoulder all the corresponding taxes, as well as the filing of tax returns and remittance of the taxes withheld to the BIR.Continue reading “Metropolitan Bank & Trust Company vs The Commissioner of Internal Revenue G.R. No. 182582 April 17, 2017”