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Presumptive input tax for real estate

Presumptive input tax for real estate

Before the effectivity of Republic Act (RA) No. 7716 (Expanded VAT Law) in 1996, the sale of real properties was originally not subject to value-added tax (VAT). The enactment of RA 7716, which amended the 1986 National Internal Revenue Code (NIRC), paved the way for the inclusion of real properties to the goods or properties subject to VAT. Presently, under RA 9337 (Reformed VAT Law), the sale of real properties is still subject to VAT. Under this law, real estate dealers are required to register as VAT-registered taxpayers with the Bureau of Internal Revenue (BIR).

File name: 92.BM.Presumptive_Input_Tax_for_Real_Estate.5.21.09.RNR.pdf
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Created date: Sunday September 08, 2013 00:50:48
Last updated date: Sunday February 28, 2010 06:23:09
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