“Exports Sales” of Omnibus Investment Code of 1987 are Zero-Rated Sales Under the NIRC

Paragraph (2)(a)(2) of Section 106 of the National Internal Revenue Code (NIRC), as amended by the Tax Reform for Acceleration and Inclusion (TRAIN) Act (TRAIN Law), provides that those considered as "export sales" under Executive Order No. 226, otherwise known as the Omnibus Investment Code of 1987, shall be considered as "export sales" subject to …

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