SIGNIFICANT DATES

The following are the events that occurred on specific dates during the tax case between
the First Philippine Electric Corporation (petitioner) and the Commissioner of Internal Revenue
(respondent):

DATE EVENT(S)

The petitioner through Jose Chito Valdellon (duly authorized

representative) received Letter of Authority No. LOA-116-
May 25, 2010 2010-00000052 (LOA), dated May 14, 2010, together with a
Letter and Checklist of Requirements requesting the
submission of certain documents.

The VP Controller of the petitioner, Ms. Trinidad C. Binua,

January 9, 2013 executed a Waiver (First Waiver) to suspend the operation
of the Statute of Limitations until June 30, 2013.

The First Waiver was accepted by OIC Assistant

January 15, 2013 Commissioner for Large Taxpayers Services (OIC-ACIR)
Alfredo V. Misajon.

First Philippine Electric Corporation received a Notice of

February 8, 2013
Informal Conference (NIC) dated February 7, 2013.

Ms. Binua executed another Waiver (the Second Waiver) to

May 22, 2013 extend the suspension of the operation of the Statute of
Limitations until December 31, 2013.

May 29, 2013 The Second Waiver was accepted by OIC-ACIR Misajon.

First Philippine Electric Corporation filed its response to the

July 25, 2013
Notice of Informal Conference.

Mr. Arthur A. De Guia, petitioner's President, executed a

November 11, 2013 subsequent Waiver (the Third Waiver) to further suspend the
original period until March 31, 2014.

November 13, 2013 OIC-ACIR Misajon accepted the Third Waiver.

 The petitioner received a copy of a Preliminary Assessment
Notice (PAN) dated January 9, 2014 stating that after
January 10, 2014 investigation, petitioner has been found liable for deficiency
income tax, VAT, WC, EWT, DST, and FBT for taxable year
2009.

First Philippine Electric Corporation filed a reply to the PAN

January 24, 2014 with corresponding supporting documents as opposed to the
assessments in the PAN.

The petitioner received a copy of the Formal Letter of

Demand with Final Assessment Notice finding petitioner
February 21, 2014 liable for deficiency income tax, VAT, WC, EWT, DST and
FBT for taxable year 2009 in the sum of Php 25,515,586.20,
inclusive of interests and penalties

The petitioner filed its protest to the assessments, with

supporting documents attached, assailing the deficiency
March 21, 2014
assessments in the FLD/FAN and requesting that the same
be cancelled.

First Philippine Electric Corporation filed a supplemental

protest dated May 16, 2014 and submitted additional
May 19, 2014 supporting documents to the BIR within sixty (60) days from
the date it filed the initial protest and submitted the first set
of documents in support of its position.

The petitioner received a copy of the Final Decision on

Disputed Assessments (FDDA) dated October 2, 2015. The
October 16, 2015
FDDA assessed petitioner for deficiency tax in the aggregate
amount of Php12,754,942.85.

The present Petition for Review was filed with this Court. The
Petition prays that the assessments be declared null and
void. Petitioner argues that respondent's right to assess
November 13, 2015
deficiency taxes for year 2009 has already prescribed; that it
was not accorded due process; and, that the assessments
have no merit.

February 1, 2016 The respondent filed his Answer.

 The parties filed their Joint Stipulation of Facts and Issues
May 2, 2016 (JSFI), which was approved and adopted in the Court’s Pre-
Trial Order (PTO) dated May 6, 2016.

The petitioner filed its Motion for Commissioning of

April 25, 2016
Independent Certified Public Accountant.

The Motion for Commissioning of Independent Certified

June 27, 2016
Public Accountant was granted during the hearing.

November 22, 2016 The petitioner filed its Formal Offer of Evidence (FOE).

November 24, 2016 The respondent’s Comment (on the FOE) was filed.

The Court resolved the petitioner’s FOE with several exhibits

being denied admission.
January 24, 2017
The petitioner filed its Motion for Partial Reconsideration
which was partially granted in the Court’s Resolution dated
March 22, 2017.

The respondent presented his lone witness, Revenue Officer

May 29, 2017
Olivia S. Sison.

June 1, 2017 The respondent filed his Formal Offer of Evidence.

The petitioner’s Comment and/or Objection on the

June 9, 2017
respondent’s FOE was filed.

The Court resolved the respondent’s FOE and admitted all

October 12, 2017
of the offered exhibits.

December 18, 2017 The respondent filed his Memorandum.

January 18, 2018 The petitioner filed its Memorandum.

January 22, 2018 The case was deemed submitted for decision.

February 9, 2018 The final decision was rendered.