Practice question
Under current Section 110(A)(1)(b), what condition describes a purchase of services capable of giving rise to creditable input VAT, subject to a proper invoice and other requirements?
- Only services paid by gold
- Only services supplied free of charge
- Only a seller’s estimate of future work
- Services on which VAT has accrued
- Only services already resold abroad
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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