Practice question
When a buyer receives a separately stated VAT component on an invoice, does that statement alone prove who ultimately bears the economic cost after all available credits and pricing adjustments?
- Yes; invoice typography conclusively decides all later burden.
- Yes; every business buyer is a final household consumer.
- No; credits and actual economic arrangements must also be considered.
- No; because invoices can never contain tax information.
- Yes; a tax line transfers the seller's citizenship to the buyer.
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
Answer this question in flashcards to review your response and continue practicing.