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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