Practice question
A holder requests cash conversion of an unutilized tax credit certificate. Which condition expressly accompanies conversion under current Section 204(C)?
- Destroy every record privately
- Transfer it to an unrelated buyer
- Ignore Section 230
- Pay withholding tax with it first
- Observe Section 230 and surrender the original certificate for verification and cancellation
Legal references
- RA11976, Sections31-32, current NIRC204(C) and229: https://lawphil.net/statutes/repacts/ra2024/ra_11976_2024.html
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