Practice question
A corporation carried over excess creditable withholding tax but never opted for a refund or tax credit of that same amount. No other PAN exception is present. The examiner invokes228(c) merely because there was a carryover. Which conclusion follows the stated facts?
- Carryover alone does not establish every condition of the specified exception
- Any carryover automatically satisfies the refund-and-double-use exception
- Every corporation is exempt from receiving a PAN
- A valid deduction always makes a PAN unnecessary
- The examiner can replace the statutory conditions with convenience
Legal references
- NIRC RA8424, Sections203,222–223 and228: https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html Section228(c)–(e), specific PAN exceptions.
Answer this question in flashcards to review your response and continue practicing.