Practice question
Compare valuation of an ordinary qualifying nonbusiness withdrawal with valuation of retained taxable goods on actual business cessation.
Legal references
- NIRC Sections 106(B) and 112(A), read with subsequent amendments: https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
- 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
- BIR RR 16-2005, Sections 4.106-7 and 4.106-8, read with RR 4-2007 and later statutes: https://bir-cdn.bir.gov.ph/BIR/pdf/26116rr16-2005.pdf
- BIR RR 4-2007, amendments to deemed-sale and VAT-status rules: https://bir-cdn.bir.gov.ph/BIR/pdf/33868rr%20no.%204-2007.pdf
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