BIR, PBA reach compromise deal
MANILA, Philippines — The Court of Tax Appeals (CTA) has approved a compromise deal between the Bureau of Internal Revenue and the Philippine Basketball Association, allowing the latter to pay less than half of its P532.7-million tax deficiencies for 13 years or from 1988 to 2000.
In a 12-page decision promulgated on Sept. 21, the CTA Second Division has found to be in order the compromise agreement entered into by the BIR, represented by its commissioner, Caesar Dulay, and the PBA, represented by its commissioner, Willie Marcial, on July 22, 2019.
“The parties are hereby enjoined to faithfully comply with all the terms and conditions of the aforesaid Judicial Compromise Agreement. Accordingly, this case is now deemed closed and terminated,” the decision read.
It was in January 2003 when the BIR issued formal assessment notices (FANs) and formal letters of demand (FLDs) to the PBA.
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