Practice question
What interest-rate concession does RA 11976 Section 45(c) provide for qualifying micro and small taxpayers?
- A universal cancellation of principal tax
- A doubling of every interest rate
- A 50% reduction of the Section 249 interest rate
- A separate 100% surcharge instead of interest
- An indefinite personal choice of rate
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
Answer this question in flashcards to review your response and continue practicing.