Colgate - Palmolive Philippines, Inc. Vs. Hon. Pedro M. Gimenez
Colgate - Palmolive Philippines, Inc., Petitioner Vs. Honorable Pedro M. Gimenez as Auditor General and Ismael Mathay as Auditor of the Central Bank of the Philippines, Respondents. G.R. No. L-14787, January 28, 1901 Facts: The Petitioner Colgate - Palmolive, Inc. is a corporation duly organized and existing under the Philippine law for the manufacture of toilet preparations and household remedies. The company imported various materials such as Irish moss extracts, sodium benzoate, sodium saccharin ate, precipitated calcium and dicalcium phosphate, for use as stabilizers and dental cream flavor of the dental cream they manufacture. For every importation of these materials, the petitioner paid to the Central Bank 17% special excise tax on the foreign exchange used for the payment of the cost, transportation and other incidental charges, in accordance with R.A. 601 (Exchange Tax Law). On March 14, 1956, Petitioner filed with the Central Bank 3 applications for re...