Practice question
Which general pattern implements the VAT destination principle?
- All imports exempt and all exports taxed at the ordinary rate
- Imports taxed and qualifying exports zero-rated, subject to governing law
- All foreign-currency receipts exempt
- All local purchases exempt
- All transactions taxed only in the seller’s incorporation country
Legal references
- CIR v. Seagate Technology, G.R. 153866, February 11, 2005 (destination principle): https://lawphil.net/judjuris/juri2005/feb2005/gr_153866_2005.html
- Maibarara Geothermal v. CIR, G.R. 250479, July 18, 2022: https://lawphil.net/judjuris/juri2022/jul2022/gr_250479_2022.html
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