Practice question
For application of a tax credit certificate under Section 204(C), whose qualifying tax liability must it address?
- Any unrelated corporation’s tax
- A tax for which the taxpayer is directly liable, subject to the statutory exclusion
- Any neighbor’s tax
- Only the accountant’s tax
- Only a tax that no one owes
Legal references
- RA 11976, Section 31, amended NIRC Section 204(C): https://lawphil.net/statutes/repacts/ra2024/ra_11976_2024.html
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