Practice question
In an ordinary taxable domestic sale by a VAT-registered seller, what does the impact of VAT refer to?
- The buyer’s personal preference
- The statutory liability imposed on the seller
- The seller’s delivery expense
- The buyer’s income-tax bracket
- The amount of the buyer’s savings
Legal references
- https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html — NIRC, section 105, indirect nature of VAT
- https://lawphil.net/judjuris/juri2005/feb2005/gr_153866_2005.html — CIR v. Seagate Technology (Philippines), G.R. No. 153866, February 11, 2005, indirect taxation and distinction between liability and burden
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