Practice question
For a stipulated period, the lawful ordinary Section 249 rate is 12% annually. A taxpayer validly qualifies for the EOPT 50% interest-rate reduction. What rate applies for that period?
- 24%
- 12%
- 9%
- 6%
- 0%
Legal references
- NIRC Section249(A)–(B), as amended by RA10963 Section75; https://lawphil.net/statutes/repacts/ra2017/ra_10963_2017.html
- RA11976 Section45(c), micro and small taxpayer concession; https://lawphil.net/statutes/repacts/ra2024/ra_11976_2024.html
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