BIR Revenue Regulations

 

 

-Amends further pertinent provisions of Revenue Regulations (RR) No. 2-98, as last amended by RR No. 30-2003, which provides for the inclusion of real estate service practitioners who passed the licensure examination given by the Real Estate Service under the Professional Regulations Commission as among those professionals falling under Section 2.57.2(A)(1) of RR No. 2-98, as amended, and RR No. 14-2002 as regards income payments to certain brokers and agents (Published in Manila Bulletin on June 8, 2013)

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- Prescribes the endorsement of fraud cases discovered in the processing and issuance of Certificates Authorizing Registration (CARs) and Tax Clearances (TCLs) and amends the manner and procedures in the issuance of CARs and TCLs for transactions or transfers within the area of jurisdiction of Revenue Region No. 1

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- Amends RMO No. 7-2013 relative to the manner and procedures in the issuance of CARS and TCLs for transactions or transfers within the area of jurisdiction of Revenue District No. 6

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- Circularizes the full text of PEZA Board Resolution No. 12-610

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- Clarifying the Taxability of Donations given to Homeowners’ Association of Subdivisions and Villages

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- Circularizing Revocation of Certification Ruling issued under SN No. 391-2009 dated 29 December 2009

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- Clarifying the Taxability of Association Dues, Membership Fees, and Other Assessments/Charges Collected by Homeowners’ Associations

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- Clarifying the Taxability of Association Dues, Membership Fees, and Other Assessments/Charges Collected by Condominium Corporations

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- VAT Treatment on Sale of Adjacent Residential Lots, House and Lots or Other Residential Dwellings, thereby Amending Certain Provisions of Resource Regulation No. 16-2005, as amended, Otherwise known as Consolidated VAT Regulations of 2005

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- Prescribing a period of Prescription for Rulings under Section 40 (C)(2) of the National Internal Revenue Code of 1997 as amended…

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             - Clarifying the Taxability of Clubs Organized and Operated Exclusively for Pleasure, Recreation, and Other Non-Profit Purposes

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            - Request for tax exemption of private contractors for socialized housing projects under Section 20 of Republic Act (R.A.) No. 7279 or the “Urban Development and Housing Act of 1992″

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            -  Joint Venture or Consortium Formed For The Purpose Of Undertaking Construction Projects and Mandatory Enrollment of Local Contractors in the Electronic Filing and Payment System (EFPS)
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             - Implementing Sections 24(D)(1), 27(D)(5), 57, 106 and 196 of the National Internal Revenue Code of 1997 on Non-Redemption of Properties Sold During Involuntary Sales

 

              - Circularizes the Full Text of the Commission on Audit’s Reply on the Query Re: Recording of Forfeited Real Properties which were Lumped and Assigned a Single Valuation in the National Government (NG) Books of the Bureau of Internal Revenue

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              - Circularization of BIR Ruling No. 023-10 dated August 4, 2010 on the Capital Gains Tax and Documentary Stamp Tax liability of a non-stock non-profit organization on its disposition of real property.

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 - Amending Certain Provision of Revenue Regulations No. 06-2008 Entitled Consolidated Regulations Prescribing the Rules on the Taxation of Sale, Barter, Exchange or Other Disposition of Shares of Stock Held as Capital Assets

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Amending Revenue Regulation No.13-2001, Regarding Abatement of Cancellation of Internal Revenue Tax Liabilities

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Effectivity of Threshold Amounts for Sale of Residential Lot, Sale of House and Lot, Lease of Residential Unit and Sale or Lease of Goods or Properties or Performance of Services covered by Section 109 (P), (Q) and (V) of the Tax Code of 1997, as amended.

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Increasing the Amount of Threshold Amounts for Sale of Residential Lot, Sale of House and Lot, Lease of Residential Unit and Sale or Lease of Goods or Properties or Performance of Services covered by Section 109 (P), (Q) and (V) of the Tax Code of 1997, as amended, thereby Amending Certain Provisions of Revenue Regulations No.  16  -2005, as amended Otherwise Known as Consolidated VAT Regulations of 2005.

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Implementing the Tax Provisions of Republic Act No. 9856 Otherwise Known as “The Real Estate Investment  Trust Act of 2009″

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REPORTORIAL REQUIREMENT FOR ESTABLISHMENTS LEASING OR RENTING OUT SPACES FOR COMMERCIAL ACTIVITIES

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