Practice question
A foreign buyer pays in dollars for goods delivered for ordinary local retail consumption. No export shipment or other qualifying zero-rating route exists. Does foreign currency alone establish zero-rating?
- No; the actual statutory export or other zero-rating conditions must also be met
- Yes, every dollar payment makes an export
- Yes, buyer nationality alone controls
- Only the invoice font matters
- No transaction can ever be zero-rated
Legal references
- NIRC Sections 106(B) and 112(A), read with subsequent amendments: https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
- RA 12066, Sections 6-9, amended NIRC Sections 106, 108, 109 and 112(C): https://lawphil.net/statutes/repacts/ra2024/ra_12066_2024.html
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