tag:blogger.com,1999:blog-6404429617035615850.post4594019365711046846..comments2011-01-27T09:59:16.990+08:00Comments on 2006 Exam in Taxation Law: 7.Unknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6404429617035615850.post-20681180524360117462011-01-27T09:59:16.990+08:002011-01-27T09:59:16.990+08:00Yes. The term "Gross Receipts" is broad ...Yes. The term "Gross Receipts" is broad enough to include income<br />constructively received by the taxpayer. The amount withheld is<br />paid to the government on its behalf, in satisfaction of withholding<br />taxes. The fact that it did not actually receive the amount does not<br />alter the fact that it is remitted in satisfaction of its tax obligations.<br />Since the income withheld is an income owned by Express<br />Transport, the same forms part of its gross receipts (CIR v.<br />Solidbank Corp., G.R. No. 148191, November 25, 2003).Unknownhttps://www.blogger.com/profile/01562861774552420870noreply@blogger.com