Due to the proposed Tax Reform under Senate Bill No. 1592 known as “Tax Reform Acceleration and Inclusion (TRAIN),” the following possible effects may be implemented:
1. Increase in Capital Gain Tax (applicable on Transfers of Property) from 6% to 20%.
2. Change in Value Added Tax selling from 1.9M (lot) and 3.1M (house and lot)will be down to vatable selling price at 2M for lot, house and lot, and condominium.
3. All units worth 2M and up are automatically subjected to Value Added Tax.
Effectivity Date: January 1, 2018.
To our clients who had purchased their units at non vat price and as of this time it’s List Price is still not subjected to VAT, CONGRATULATIONS!! For automatically we have an increase of 12% due to the tax reform bill starting the above mentioned date.
***Senate bill is still subject to a series of debates and amendments that will undergo a second and a third reading.
So, when is the best time to invest? It is NOW!
✔️Invest before January 1 to get the units at its lowest price!
http://bacolodfinest.com/wp-content/uploads/2017/11/LOGO.png126338Bacolod Finesthttp://bacolodfinest.com/wp-content/uploads/2017/11/LOGO.pngBacolod Finest2017-12-06 15:37:182017-12-06 15:37:18LATEST NEWS ON PHILIPPINE REAL ESTATE