Owning property means that you must also give the government their due. Thus, taxes may be collected by the government through the Bureau of Internal Revenue or the local government units under the Local Government Code. The taxes under the Local Government Code is commonly known as amilyar. The power to levy real property tax, […]
Being a condominium unit owner entails obligations that you have to pay for the continuous maintenance and enjoyment of the amenities and facilities. This convenience is part and parcel of the reason why you chose to go the condominium living route. Monthly condominium fees are being collected by the management of the condominium for every […]
Waiting in line is a common and frustrating experience that most people have encountered at some point in their lives. Whether it’s waiting for the latest gadget release, concert tickets, or even just to pay at the cashier, waiting in line can be a tedious and time-consuming process. Fortunately, there is a solution to this […]
Section 251 of the Local Government Code provides for tax discount for advanced prompt payment. The provision states that, “If the basic real property tax and the additional tax accruing to the Special Education Fund (SEF) are paid in advance in accordance with the prescribed schedule of payment as provided under Section 250, the sanggunian […]
On May 12, 2014, the Bureau of Internal Revenue issued Revenue Memorandum Circular No. 40-2014 on Prescribing the Use of Electronic Certificate Authorizing Registration (BIR Form No. 2313-R for Transaction Involving Transfer of Real Properties and BIR Form No. 2313-P for Transaction Involving Transfer of Personal Properties). In this memorandum, the previous manual issuance of […]
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