The Importance of Verifying the BIR TIN of Property Sellers for VAT Consideration In the world of real estate transactions, there are various taxes and expenses that both buyers and sellers need to be aware of. One of the crucial factors that can significantly impact the financial aspect of a property sale is the Value Added Tax (VAT), which is set at 12% in the Philippines. To avoid unexpected...
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Title: The Importance of Visiting the Local Assessor's Office in Property Due Diligence When considering the purchase of a property, conducting due diligence is essential to ensure a smooth and secure transaction. One crucial aspect of this process is visiting the Local Assessor's Office. In this article, we will explore why a visit to this office is crucial and what...
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How to make sure their inheritance is inherited By: Philis Theresa Cruz During our lifetime, we accumulate properties—personal or real—that we want to pass on to our heirs. But we also hope that relationships are not ruined by inheritance disputes and we want to ease the burden of additional and excess fees. So, how do we secure our heirs’ inheritance? Before anythi...
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What are taxes involved in selling real estate property in the Philippines? Selling a real estate property in the Philippines can be a complex process, especially when it comes to understanding the tax implications. As a seller, it is important to be aware of the different taxes involved in the transaction to avoid any potential legal and financial issues. In this blog, we w...
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Real Estate Investment and Tax Benefits in the Philippines: What You Need to Know? Real estate investment is an attractive option for many people in the Philippines, especially when it comes to buying and owning properties that they can use or rent out for passive income. But did you know that there are also tax benefits that you can enjoy as a real estate investor in the country? Here's wh...
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The proposed Corporate Income Tax and Incentives Rationalization Act (Citira) will continue to give away tax breaks to priority industries that will generate more jobs and create additional value-added in the economy, the Department of Finance (DOF) said Monday. “We cannot dispute that the many industries receiving incentives have made valuable contributions to the economy and to the Fili...
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