Bloomberry wins SC tax case vs BIRThe Supreme Court (SC) has granted the certiorari petition of Bloomberry Resorts & Hotels, Inc. (BRHI) against the imposition of corporate income tax by the Bureau of Internal Revenue (BIR) on BRHI as a licensed casino operator of the Philippine Amusement and Gaming Corporation (PAGCOR). In a disclosure to the Philippine Stock Exchange, parent company Bloomberry Resorts Corporation, the Supreme Court ordered the BIR to cease and desist from imposing corporate income tax on income from gaming operations of casinos duly licensed by the PAGCOR. Bloomberry, the casino operator in Solaire Resort & Casino filed the petition in 2014 to nullify the provision of Revenue Memorandum Circular (RMC) No. 33-1013 issued by then BIR Commissioner Kim Henares in 2013 which imposed corporate income tax on casinos. The Court cited its en banc decision in PAGCOR v. The Bureau of Internal Revenue, GR No.

Source: Manila Bulletin September 06, 2016 14:18 UTC