Koppel Vs Yatco
Koppel Vs Yatco
L-47673
Date of October 10, 1946
Promulgation
Petitioner KOPPEL (PHILIPPINES), INC., plaintiff-appellant,
Respondent ALFREDO L. YATCO, Collector of Internal Revenue, defendant-
appellee
Ponente
Doctrine/
Relevant Topic
Facts Plaintiff is a corporation duly organized and existing under and by virtue
of the laws of the Philippines, with principal office in Manila, the capital
stock of which is divided into 1,000 shares of P100 each. The Koppel
Industrial Car and Equipment company, a corporation organized and
existing under the laws of the State of Pennsylvania, United States of
America, and not licensed to do business in the Philippines, owned nine
hundred and 995 shares out of the total capital stock of the plaintiff. The
remaining 5 shares only were and are owned one each by officers of the
plaintiff corporation. That plaintiff, at all times material to this case, was
and now is duly licensed to engage in business as a merchant and
commercial broker in the Philippines; and was and is the holder of the
corresponding merchant's and commercial broker's privilege tax receipts.