Practice question
Which transfer is expressly described in Section228(e)’s PAN exception?
- An exempt person transfers covered locally purchased or imported articles to a nonexempt person
- Any transfer of a birthday card
- Every transfer between two private bank accounts
- Only gifts to exempt institutions in every circumstance
- Every change of office address
Legal references
- NIRC RA8424, Sections203,222–223 and228: https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html Section228(c)–(e), specific PAN exceptions.
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