Practice question
A current services purchase is properly invoiced and VAT has accrued but the price remains unpaid. Explain why an old rule based only on actual payment cannot substitute for current Section 110(A)(1)(b).
Legal references
- RA 11976, Sections 16 and 19-21, current NIRC Sections 106(E), 110 and 112(B): https://lawphil.net/statutes/repacts/ra2024/ra_11976_2024.html
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