G.R. No. 167679 - ING BANK N.V., ENGAGED IN BANKING OPERATIONS IN THE PHILIPPINES AS ING BANK N.V. MANILA BRANCH, VS. COMMISSIONER OF INTERNAL REVENUE.D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE, the assessments for 1996 and 1997 deficiency income tax, 1996 and 1997 deficiency branch profit remittance tax and 1997 deficiency documentary stamp tax on IBCLs exceeding five days are hereby CANCELLED and WITHDRAWN. However, the assessments for 1996 and 1997 deficiency withholding tax on compensation, 1996 deficiency onshore tax and 1996 and 1997 deficiency documentary stamp tax on special savings accounts are hereby UPHELD in the following amounts: Particulars Basic Tax Surcharge Interest Total Deficiency Withholding Tax on Compensation 1996 (ST-WC-96-0175-99) P 105,939.86 P 61,445.11 P 167,384.97 1997 (ST-WC-97-0184-99) 287,795.44 109,362.26 397,157.70 Deficiency Onshore Tax 1996 (ST-OT-96-0176-99) 544,991.20 P 136,247.80 316,094.89 997,333.89 Deficiency Documentary Stamp Tax 1996 (ST-DST-96-0178-99) 3,838,753.06 959,688.27 4,798,441.33 1997 (ST-DST-97-0180-99) 186,997,288.84 46,749,322.21 233,746,611.05 TOTALS P 191,774,768.40 P 47,845,258.28 P 486,902.26 P 240,106,928.94 Accordingly, petitioner is ORDERED to PAY the respondent the aggregate amount of P240,106,928.94, plus 20% delinquency interest per annum from February 3, 2000 until fully paid, pursuant to Section 249(C) of the National Internal Revenue Code of 1997. SO ORDERED.