Practice question
Which distribution is expressly deemed a sale under Section 106(B)(2)?
- A shareholder merely receiving a notice of meeting
- A creditor asking for financial statements
- A customer comparing prices
- A corporation approving a future budget
- Goods transferred to shareholders as their share in the profits of the VAT-registered person
Legal references
- NIRC Section 106(B): https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
Answer this question in flashcards to review your response and continue practicing.