Tax Update on VAT/Real Property Taxes

Starting January 1, 2012, BIR increases the threshold amounts for sale of residential lot, sale of house and lot, lease of residential unit and sale or lease of goods or properties or performance of services's as per Revenue Regulations No. 16-2011 :

As per BIR's RR 16-2011 dated Oct. 27, 2011, starting next year, sales on real properties exempt from VAT: For lots below P 1,919,500 (previously P1.5M) and on House & Lot below P3,199,200 (previously 2.5M)

Please click here to see complete text of the BIR Update : … y-tax.html

Questions and answers about the tax system

US tax help needed
By strvger
Death dutiies
Tax Assistance/Advice
By bbazor

Expatriate health insurance in the Philippines

Free advice and quotation service to choose an expat health insurance in the Philippines

Moving to the Philippines

Find tips from professionals about moving to the Philippines

International Money Transfer

Currency Exchange and Money Transfer Specialists

Travel insurance in the Philippines

Enjoy a stress-free travel across the Philippines

Flights to the Philippines

Find the best prices for your flight tickets to the Philippines