Archive for June, 2015

NEW PAGIBIG RATES FOR 2015 Here’s a really very great real estate news for everyone! Especially for the home seekers. PAGIBIG or HDMF (Home Development Mutual Fund) has released NEW RATES! A new LOWER RATES! (Please see the picture below for reference)                   In case you can’t see the pictures clearly, here it is in written (or typed) form: 3-Year Fixing – […]

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        DOCUMENTARY STAMPS TAX (DST) Documentary Stamps Tax is an excise tax. It is a tax affixed on documents, instruments, loan agreements and papers evidencing the acceptance, assignment or sale or transfer of obligation, right or property incident thereto. A tax upon facilities used in the transaction of the business separate and apart from the business itself. Levied on the documents and not on the property which […]

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As mentioned in an earlier post, we would be talking about the taxes one by one. First, we will be discussing Capital Gains Tax (CGT). CAPITAL GAINS TAX Capital Gains – refers to the presumed profit realized for the sale, or exchange or disposition of lands and/or buildings classified as capital assets not ordinary assets or inventories/stocks including foreclosure sales, pacto de recto sales and other forms of conditional sales […]

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TAXES RELATED TO REAL ESTATE TRANSACTIONS There are three basic inherent powers of the state, namely Police Power, Eminent Domain, and Taxation. And amongst the three, the least favorite of most is Taxation. So what is really taxation? Taxation is defined as the inherent power of the State to impose and collect taxes for the purpose of raising revenue to defraying governments’ necessary expenses for public needs or public purpose. […]

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