REVENUE MEMORANDUM CIRCULAR NO. 8-2012 issued on February 29, 2012 circularizes relevant excerpts from the En Banc Supreme Court Decision in the case of Philippine Amusement and Gaming Corporation (PAGCOR) vs. the Bureau of Internal Revenue, G.R. No. 172087 dated March 15, 2011, concerning the liability of PAGCOR to corporate Income Tax and the revocation of the pertinent provisions of Revenue Regulations (RR) No. 16-2005 relative to the imposition of 10% Value-Added Tax (VAT) on PAGCOR.                                                                      PAGCOR failed to prove that it is still exempt from the payment of corporate Income Tax, considering that Section 1 of Republic Act (RA) No. 9337 amended Section 27(c) of the National Internal Revenue Code of 1997 by omitting PAGCOR from the exemption. The legislative intent is to require PAGCOR to pay Income Tax.                                                                                                        Since PAGCOR is exempt from VAT under RA No. 9337, the BIR exceeded its authority in subjecting PAGCOR to 10% VAT under RR No. 16-2005; hence the said regulatory provision is nullified.                                                                                                                                                        Subsequently, the Court En Banc Resolution dated May 31, 2011 denied with finality the separate motions for partial reconsideration filed by the BIR and PAGCOR since “no substantial arguments were presented to warrant the reversal of the questioned Decision”.