Republic Of The Philippines Supreme Court Manila En Banc G.R. v. Yatco

LAUREL, J.:

The original plaintiffs in the Court of First Instance of Manila were the Philippine Trust Company, the Peoples Bank and Trust Company, the Yokohama Specie Bank, Ltd., the Chartered Bank of India, Australia & China, the Bank of the Philippine Islands, the Hongkong & Shanghai Banking Corporation, and the China Banking corporation. As the last three named Banks did not appeal from the decision of the lower court, we are here concerned with the appeal taken by the plaintiffs named in the four above-titled cases. The records disclosed that prior to the filing of these suits, and for a number of years, the plaintiffs-appellants had been paying capital and deposit taxes without protest, formerly under section 111 of Act No. 1189, and later under section 1499 of the Revised Administrative Code of 1917, as amended.

The taxes paid under protest and sought to recovered are as follows: Philippine Trust Co. .................................................... 1934-1936 P98,308.85 Peoples Bank .............................................................. 1934-1936 188,827.15 Yokohama Specie Bank ............................................

1935-1936 14,265.10 Chartered Bank ........................................................... 1935-1936 132,903.82 Total ....................................................................................................