Chamber of Real Estate & Builders’ Associations, Inc.

"A Home for every Filipino"

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"Long-term and affordable funds for socialized and economic housing"
A PROPOSED BILL AMENDING REPUBLIC ACT 7835 OR THE COMPREHENSIVE AND INTEGRATED SHELTER FINANCE ACT (CISFA) OF 1994
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"Affordable homes for employees in urban areas"
PASSED AS R.A. 10084 OF 2016
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"Lands for Human Setlements, Agriculture and the Environment"
A Porposed bill institutting a National Land Used Policy.
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"Efficient local government housing regulations"
A proposed bill amending related provisions of Republic Act 7160 or the Local Govenrment Act of 1991
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"A proposed bill creating the "Department of Housing and Urban Development (DUHD)"
PASSED AS R.A. 11201 OF 2019
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CREBA appeals anew to spare housing from VAT
The Manila Times



BY: The Manila Times
September 15, 2020

POSTED IN: Local Industry Snapshots
By: CREBA, Inc.

CREBA, Inc. | October 15, 2020

THE country’s largest real estate and housing developers group has appealed anew to avert the looming value-added tax imposition upon housing purchases as millions of Overseas Filipinos and low-income earners who have yet to acquire homes of their own continue to suffer from the negative effects of the worldwide Covid-19 pandemic.



Among other measures to stimulate the property industry, this call-out by the Chamber of Real Estate and Builders’ Associations, Inc. (Creba) to government takes a high pitch as availment of VAT-exempt home packages granted a three-year reprieve under Republic Act No. 10693 or the Tax Reform for Acceleration and Inclusion (TRAIN Law) ceases by December 2020.



This, against an eerie backdrop of a housing backlog of at least 6.57 million units, with supply and demand gap getting wider by 300,000 units every year.



Lamenting that housing has always been ‘heavily-taxed and highly-regulated’, Creba National Chairman Charlie Gorayeb and National President Noel Toti Cariño appealed for the immediate issuance of an appropriate BIR revenue ruling to preserve the status quo on VAT-exempt housing packages and provide the millions of yet homeless Filipinos the chance to a dignified quality of life through decent and affordable homes.