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[2/2] Intel Technology Phil Inc Vs. Commissioner of Internal Revenue

[2/2] INTEL TECHNOLOGY PHILIPPINES, INC., Petitioner, versus COMMISSIONER OF INTERNAL REVENUE, Respondent.

G.R. No. 166732 | 2007-04-27

In the case of sale of real property subject to VAT and where the zonal or market value is higher than the actual consideration, the VAT shall be separately indicated in the invoice or receipt.

Only VAT-registered persons are required to print their TIN followed by the word "VAT" in their invoices or receipts and this shall be considered as a "VAT-invoice." All purchases covered by invoices other than "VAT Invoice" shall not give rise to any input tax.

If the taxable person is also engaged in exempt operations, he should issue separate invoices or receipts for the taxable and exempt operations. A "VAT-invoice" shall be issued only for...