Search results
15 cze 2021 · Under the TRAIN Law, beginning January 1, 2021, VAT exemption on sale of real properties shall only apply to sale of real properties not primarily held for sale to customers or held for lease in the ordinary course of trade or business, sale of real property utilized for socialized housing, and sale of house and lot and other residential ...
- Taxes on sale of real property
Revenue Memorandum Circular (RMC) No. 99-2023 provides that...
- Taxes on sale of real property
1 lut 2024 · In its recently issued Revenue Regulation (RR) No. 1-2024, the Bureau of Internal Revenue (BIR) increased the selling price threshold for VAT exemption purposes of the sale of house and lot, and other residential dwellings, further amending Section 2, Sub-section 4.109-1(B)(p) of Revenue Regulations No. 4-2021.
1 paź 2024 · Revenue Memorandum Circular (RMC) No. 99-2023 provides that generally, sales of real property classified as “ordinary assets” are subject to VAT (except for the transactions mentioned in the preceding part of this article).
12 cze 2021 · The VAT-exempt threshold of Two Million Pesos (PHP2,000,000.00) for the sale of house and lot and other residential dwellings is adjusted to Three Million One Hundred Ninety-Nine Thousand Two Hundred Pesos (PHP3,199,200.00) beginning 1 January 2021.
1 sty 2024 · Given this mandate and taking into account 2023 CPI values as published by the PSA, the new price threshold for the sale of house and lot and other residential dwellings for VAT-exemption purposes, rounded up, is PHP3,600,000.00. The new threshold shall take effect beginning 1 January 2024.
17 sty 2024 · The Bureau of Internal Revenue (BIR) increased value-added tax (VAT) exemption threshold for residential properties to below P3.6 million. Commissioner Romeo Lumagui Jr. announces the exemption through Revenue Regulations No. 1-2024.
Sale of real property utilized for low-cost and socialized housing Exempt. Sale of residential lot valued at P1.5M and below Not exempt. House and lot and other residential dwellings Exempt if the selling price is P2M and below (this is adjusted to P3,199,200 by RR 16-2011 using the 2010 CPI values)
