Practice question
A taxable sale has a stipulated 12% rate and an agreed VAT-inclusive total of PHP1,120. Explain why VAT's indirect nature alone does not authorize adding12% of that total again, and distinguish pricing from statutory liability.
Legal references
- NIRC Sections57-58,105-106 and110: https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
- RA12023, current digital-services VAT and reverse-charge provisions: https://lawphil.net/statutes/repacts/ra2024/ra_12023_2024.html
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