Practice question
Explain how the input-tax credit mechanism affects an intermediate business buyer's economic burden while leaving the supplier's legal output-tax obligations distinct.
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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