TAX exemption and tax amnesty are two important concepts in Philippine taxation law, but they are often confused. It is important to understand the difference between the two.
Tax exemption is the condonation of a tax liability conferred upon to persons or entities belonging to a specific category, which may be express, implied or contractual, in relation to a tax that persons or entities generally within the same jurisdiction or taxing district are compelled to pay. Tax exemption is an immunity or privilege and freedom from a charge or burden to which others are subjected. It is generally prospective in application (Philippine Long Distance Telephone Co. v. City of Bacolod, GR 149179, July 15, 2005).
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