C04667-2018

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Jul 6, 2018
2. SEC Identification Number
166878
3. BIR Tax Identification No.
000460602000
4. Exact name of issuer as specified in its charter
Grand Plaza Hotel Corporation
5. Province, country or other jurisdiction of incorporation
Pasay City, Metro Manila
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
10F Heritage Hotel Manila, EDSA Extension corner Roxas Boulevard, Pasay City Postal Code 1300
8. Issuer's telephone number, including area code
02-8548838
9. Former name or former address, if changed since last report
-
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Stocks 87,318,270
11. Indicate the item numbers reported herein
-

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Grand Plaza Hotel CorporationGPH

PSE Disclosure Form 4-26 - Legal Proceedings References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Further update on Court of Tx Appeals (CTA) Case No. 8992 (Grand Plaza Hotel Corporation vs. Commissioner of Internal Revenue)
Background/Description of the Disclosure

Please be informed that the Management of Grand Plaza Hotel Corporation ("Corporation") has received today, July 6, 2018 the decision (Decision) rendered by the Court of Tax Appeals ("CTA") in CTA Case No. 8992 entitled "Grand Plaza Hotel Corporation vs. Commissioner of Internal Revenue ("CTA Case") dismissing the Petition for REview ("Petition") filed by the Corporation which prayed that the tax deficiency assessment in the amount of Five Hundred Eight Million One Hundred Thousand Three Hundred Eighty Seven and 12/100 Pesos (P508,101,387.12) for fiscal year 2008 be declared null and void and be cancelled in toto.

By way of background, the Corporation filed the Petition on 20 February 2015 with the CTA to invalidate the collection proceedings of the Bureau of Internal Revenue ("BIR"). The Petition is based on the Corporation's position, as advised by its tax counsel, that the collection proceedings initiated by the Commissioner of Internal Revenue ("CIR") is void because the assessments did not comply with the requirements under the law, and lacked factual and legal basis.

The Petition sought to have the CTA review the collection letter that the Corporation received from the BIR on 12 December 2013. As far as the Corporation is aware, the collection letter was issued by the BIR in connection with a Formal Letter of Demand for alleged deficiency income tax, value added tax, expanded withholding tax, withholding tax on compensation and documentary stamp tax for the year 2008, in the aggregate amount of PhP508,101,387.12 consisting of PhP262,576,825.03 for basic tax, and interest of PhP245,524,562.09 from 20 January 2009 to 30 September 2013.

On 4 July 2018, the court rendered the Decision.

In the Decision, the CTA held that the court did not have jurisdiction to entertain the Petition, because CTA only had jurisdiction to review decisions of the CIR involving cases of disputed assessments, and not tax collection cases which have become final and executory. The CTA held that for failure to file a protest within the reglementary period, the assessment in question became final, executory, and demandable. In light of the foregoing, the CTA held that it had no jurisdiction to entertain the Petition.
Name of the court or agency in which the proceedings are pending Court of Tax Appeals, Second Division
Date Instituted Feb 20, 2015
Docket Number CTA Case No. 8992
Principal Parties

1) Grand Plaza Hotel Corporation, as petitioner;

2) Commissioner of Internal Revenue, as respondent
Nature and description of the legal proceedings

CTA Case No. 8992 is a Petition for Review filed by Grand Plaza Hotel Corporation praying that the tax deficiency assessment in the amount P508,101,387.12 for fiscal year 2008 be declared null and void and be cancelled in toto
The effect(s) on the Issuer's business or operations, if any

The Corporation will exhaust all legal remedies available to contest the Decision of the CTA, and will be in consulttation with its tax advisers on the next course of action that the Corporation may pursue as a result of the dismissal by the CTA of its Petition.

The Corporation does not believe that the Decision will have any significant impact on the business operations and financial positions of the Corporation.
Other Relevant Information

This is an update to the corporation's disclosure on July 6, 2018

Please see attached letter for more information on the disclosure
Filed on behalf by:
Name Kit Sung Yam
Designation General Manager