Taxation, 2012 Bar — Question 38

MULTIPLE CHOICE

Claim for tax credit or refund of excess input tax is available only to: a) A VAT-registered person whose sales are made to embassies of foreign governments and United Nations agencies located in the Philippines without the BIR approval of the application for zero-rating; b) Any person who has excess input tax arising from local purchases of taxable goods and services; c) A VAT-registered person whose sales are made to clients in the Philippines; d) A VAT-registered person whose sales are made to customers outside the Philippines and who issued VAT invoices or receipts with the words "ZERO RATED SALES" imprinted on the sales invoices or receipts.

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