Practice question
Which prior-payment condition does Section 110(D) impose on the seller claiming the uncollected-receivable adjustment?
- The seller must have fully paid the VAT on the transaction
- The customer must have paid all income taxes
- The seller must never have paid VAT
- Every supplier must waive input tax
- The buyer must pay the receivable first
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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