Showing posts with label Bureau of Internal Revenue. Show all posts
Showing posts with label Bureau of Internal Revenue. Show all posts

Monday, November 9, 2020

Inside Real Estate: What Are The Expenses In Your Real Estate Transaction?


In the past few years, a lot of previous and potential clients would ask about the expenses on the sale of a property like taxes paid when undergoing real estate transactions from acquisition to transfer of real  properties and we have included them in this article for everyone's information in doing transactions for real estate properties.

Monday, September 16, 2019

Why You Should Avail Tax Amnesty Now For Your Real Estate Properties!

People think that paying estate tax is a burdensome process but to relieve yourself from stress one should pay the right amount just to comply tax law's of the land.  The prior to the implementation of Republic Act 11213 (Tax Amnesty Act of 2019), payment of estate tax is at a rate of up to 60% and is very steep for many ordinary Filipinos.

By definition,  Estate Tax is a tax on the right of the deceased person to transmit his/her estate to his/her lawful heirs and beneficiaries at the time of death and on certain transfers, which are made by law as equivalent to testamentary disposition. It is not a tax on property. It is a tax imposed on the privilege of transmitting property upon the death of the owner.