Practice question
Explain current58(E)'s separate-account and no-commingling rule for withheld taxes. Does correct segregation authorize the agent to postpone payment indefinitely or treat the balance as its own working capital?
Legal references
- NIRC Sections57-58,105-106 and110: https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
- RA11976, Sections9-10, current NIRC58(E) credit/refund conditions and trust-fund rule: https://lawphil.net/statutes/repacts/ra2024/ra_11976_2024.html
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