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Section 116. Tax on Persons Exempt from Value-Added Tax (VAT) - National Internal Revenue Code (NIRC)

Section 116. Tax on Persons Exempt from Value-Added Tax (VAT) of National Internal Revenue Code (NIRC). Section 116. Tax on Persons Exempt from Value-Added Tax (VAT). - Any person whose sales or receipts are exempt under Section 109(z) of this Code

  • Subjects 9 Bar syllabus groups
  • Codals 48 Primary legal sources

National Internal Revenue Code (NIRC)

Section 116. Tax on Persons Exempt from Value-Added Tax (VAT). - Any person whose sales or receipts are exempt under Section 109(z) of this Code from the payment of value-added tax and who is not a VAT-registered person shall pay a tax equivalent to three percent (3%) of his gross quarterly sales or receipts: Provided, That cooperatives shall be exempt from the three percent (3%)gross receipts tax herein imposed.

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