May 26, 2011 (Thursday)
"TAXATION OF REAL ESTATE SALES AND LEASES"
In any real estate investment or project, all the revenues and expenses were estimated and pre-determined at its very start or conception, serving as the basis for the acceptance or rejection of the proposed investment. The realization of the projected revenues and expenses can negatively be affected by unforeseen events. One of such is tax penalties and surcharges that can be brought about by neglect, ignorance or incapacity to pay on the part of the investor.
Considering that there are frequent changes and issuances of new revenue regulations, new and would be investors and even experienced ones should be knowledgeable and updated on the changes in the taxation rules in order to pay the correct taxes at the right time, thus avoiding penalties.
Topics to be taken are Taxes on Sales and Lease; Value Added Tax. This will include what taxes to pay in any real estate transaction, basis and how to compute taxes, when and where to pay, BIR forms, exemptions from taxes, latest Revenue regulations and other updates.