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BIR implements Voluntary Assessment & Payment Program (VAPP) covering the taxable year 2018

The VAPP shall apply to all internal revenue taxes covering the taxable year ending December 31, 2018, and fiscal year 2018 ending on the last day of the months of July 2018 to June 2019, including taxes on one-time transactions (ONETT) such as estate tax, donor’s tax, capital gains tax (CGT), as well as ONETT-relatedContinue reading “BIR implements Voluntary Assessment & Payment Program (VAPP) covering the taxable year 2018”

Legal Framework of Philippine Real Estate Investment Trust (REIT)

A Philippine Real Estate Investment Trusts (REIT) is a stock corporation established in accordance with the Philippine corporation code. The present corporation code in the Philippines is Republic Act No. 11232 (RA 11232). For purposes of clarity, a REIT, although designated as a “trust”, does not have the same technical meaning as “trust” under existingContinue reading “Legal Framework of Philippine Real Estate Investment Trust (REIT)”

Guidelines for the replacement of a lost owner’s duplicate Certificate of Title of a parcel of land

The replacement of a lost owner’s duplicate Certificate of Title of a parcel of land is governed by Section 109 of Presidential Decree No. 1529 (PD 1529) known as the Property Registration Decree. To sum it up the following are the requirements: The owner’s duplicate Certificate of Title must have been actually lost. This isContinue reading “Guidelines for the replacement of a lost owner’s duplicate Certificate of Title of a parcel of land”

SSS Contribution Remittance Extended until June 30, 2020

Remittance of contributions to the Social Security System (SSS) for the Month of February, March and April 2020 will be extended until June 30, 2020. The country were on strict quarantine on the middle of March 2020 and has just recently started to ease the quarantine measures and the SSS has understand the predicament ofContinue reading “SSS Contribution Remittance Extended until June 30, 2020”