Practice question
Under the current VAT invoice rule, what notation is required when the sale is subject to 0% VAT?
- VAT-exempt sale in every case
- Income-tax-free payment
- Zero-rated sale
- No invoice may be issued
- Gift regardless of the consideration
Legal references
- NIRC Section 113(B), as amended by RA 11976: https://lawphil.net/statutes/repacts/ra2024/ra_11976_2024.html
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