Practice question
Where Section 143 uses annual gross sales or receipts as the local-business-tax measure for an established business, which reference period does the cited schedule generally use?
- The owner’s childhood income
- Every projected sale for the next ten years
- The preceding calendar year
- Only the day the cashier is visited
- Only the largest customer’s income
Legal references
- RA7160, Sections132,143,146 and150: https://lawphil.net/statutes/repacts/ra1991/ra_7160_1991.html
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