Category: Real Estate Taxes and fees

A gavel which is often used during tax foreclosure auctions

How Safe Is Your Property From Being Repossessed?

Last December 2013, it was all over the news that the Local Government of Quezon City had shut down the Manila Seedling Bank for failure to pay their real property ...
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Is BIR RR No. 10-2013 Favorable To Violators Of The RESA Law?

Is BIR RR No. 10-2013 Favorable To Violators Of The RESA Law?

Some PRC-licensed real estate service practitioners (RESP's) believe that the newly-released Bureau of Internal Revenue (BIR) Revenue Regulations (RR) No. 10-2013 dated May 2, 2013 is favorable to violators of the ...
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Tax Planning For Real Estate Using Corporations And BIR RR No. 6-2013

Tax Planning For Real Estate Using Corporations And BIR RR No. 6-2013

The Bureau of Internal Revenue (BIR) has just released Revenue Regulations (RR) No. 6-2013 dated April 11, 2013 which amends BIR RR No. 6-2008, or the Consolidated Regulations Prescribing the ...
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How To Compute For Registration Fees (Registry of Deeds)

How To Compute For Registration Fees (Registry of Deeds)

In purchasing a property, there are “hidden charges” which a buyer needs to be aware of. One of this is Registration Fees. In this post, I will discuss how one ...
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VAT and income tax on homeowners associations

Homeowner’s association dues now subject to income tax and VAT (RMC No. 9-2013)

Sorry to be the bearer of bad news, but we all saw this coming. Not long after the imposition of income tax and value-added tax (VAT) on condominium dues comes ...
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donations can be used for estate planning but are subject to donor's tax

Donation As An Estate Planning Tool (A Discussion on Donor’s Tax)

The donation of properties can be used as a tool for estate planning. One just needs to be aware that donations are subject to donor's tax. Read this to find ...
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real property tax in the philippines

What You Need to Know About Real Property Tax (RPT) In The Philippines

Real Property Tax (RPT) is a tax that owners of real property need to pay every year so that the local government unit (LGU) will not auction off their property ...
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How to get a 20% discount on real property taxes

How to get a 20% discount on real property taxes

As a property owner, one of our obligations is to pay our real property taxes. It's a given, we really have no choice but to include it on our list ...
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condominium dues now subject to vat

Tax update: Condominium association dues are now subject to VAT

The Bureau of Internal Revenue (BIR) has just released Revenue Memorandum Circular (RMC) No. 65-2012 which clarifies the tax treatment of association dues, membership fees, and other assessments/charges collected by ...
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Death, Real Estate, and Estate Tax

Death, Real Estate, and Estate Tax

The topic of death is usually avoided, except when we remember our dearly departed on All Saints’ and All Souls’ Day. But with death, estate taxes must be settled, and this ...
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VAT Update: Adjacent residential properties are now considered as one under BIR RR 13-2012

VAT Update: Adjacent residential properties are now considered as one under BIR RR 13-2012

If you are thinking of buying adjacent residential properties, you better read this. The Bureau of Internal Revenue (BIR) has recently issued BIR Revenue Regulations (RR) No. 13-2012 dated October ...
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If you dont understand VAT on real estate, don't give up... read and learn!

What you need to know about Value-Added Tax (VAT) on the sale of Real Estate

A lot of people have questions on taxes, including Value-Added Tax or VAT[1] on the sale of Real Estate[2], so I will try my best to explain it as simply as ...
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Threshold for VAT exemptions to be increased effective January 1, 2012

Threshold for VAT exemptions to be increased effective January 1, 2012

The BIR has released Revenue Regulations (RR) No. 16-2011 (posted at the BIR Website) dated October 27, 2011 which increased the threshold amounts for VAT ...
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Paranaque Adopting Revised Schedules Of Real Property Values?

Paranaque Adopting Revised Schedules Of Real Property Values?

I spotted this tarpaulin along Sucat Road across Duty Free Philippines and I thought Paranaque residents might want to check this out. The tarp says a public hearing on "Adopting ...
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BIR Zonal Values (And How To Use It Properly)

BIR Zonal Values (And How To Use It Properly)

So you have announced to the world that you are now a real estate investor, and suddenly, everyone has a property they want to show to you, thinking it's a ...
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BIR to fast track the revision of the schedule of zonal values of real properties nationwide

BIR to fast track the revision of the schedule of zonal values of real properties nationwide

A post by Cherry Castillo In my earlier post, I noted that the BIR has been releasing issuances showing that they are keen on collecting more revenues from real property ...
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Recent BIR Issuances on Property Valuation may affect real estate investors

Recent BIR Issuances on Property Valuation may affect real estate investors

I can see that the BIR is dead serious in collecting revenues for the government and is exploring all avenues where tax collection can be improved. In fact, the BIR ...
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What is Transfer Tax?

What is Transfer Tax?

A transfer tax is imposed on tax on the sale, donation, barter, or any other mode of transferring ownership or title of real property at the maximum rate of 50% ...
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Save Money On Taxes: Exemptions From VAT On The Sale And Lease Of Real Estate

Save Money On Taxes: Exemptions From VAT On The Sale And Lease Of Real Estate

Assuming that you already have a property which you intend to sell or lease out, it is important to know whether or not VAT applies to your real estate transactions, ...
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More On Documentary Stamp Tax (DST) On Real Estate Transactions

More On Documentary Stamp Tax (DST) On Real Estate Transactions

There are different DST rates on different types of transactions. In my previous post on How to Easily Compute DST, I was referring to DST on the sale of real ...
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