Practice question
Explain how a valid tax credit certificate differs from an unapproved claim for the same amount, and identify the current Section 204(C) limits on its application.
Legal references
- RA 11976, Section 31, amended NIRC Section 204(C): https://lawphil.net/statutes/repacts/ra2024/ra_11976_2024.html
- Philex Mining Corporation v. CIR, G.R. No. 125704, August 28, 1998, main decision: https://lawphil.net/judjuris/juri1998/aug1998/gr_125704_1998.html
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