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Philippine Bar review · Question

Practice question: Transactions Deemed Sale Subject to VAT

Multiple Choice Easy

Practice question

For the statutory consignment rule, what period is specified when actual sale is not made?
  1. Sixty days following consignment
  2. Seven days before consignment
  3. One calendar year in every case
  4. Ten years
  5. No period is stated

Legal references

  • NIRC Section 106(B): https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html

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