Practice question
What output VAT rate applies to a transaction established to qualify as zero-rated?
- 0%
- An automatic 12% in every case
- The seller’s chosen rate
- The buyer’s income-tax rate
- A rate determined only by the payment currency
Legal references
- NIRC Sections 106,108,293(D),295(D), as amended by RA 12066, Sections 6-7,16,18: https://lawphil.net/statutes/repacts/ra2024/ra_12066_2024.html
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