A Home for Every Filipino
In 1992, Congress enacted Republic Act No. 7279, otherwise known as the Urban Development and Housing Act (UDHA). Section 18 of the law imposed a 20% social housing quota on developers undertaking subdivision projects. At the same time, Section 20 provided incentives to said developers, including the creation of one-stop offices for the processing, approval …
Social Housing One-Stop Processing Center (SHOPC) Read More »
The Creditable Withholding Tax (CWT) on sales of real property was first imposed in December 1989 by then Commissioner of Internal Revenue Jose Ong under BIR Revenue Regulation No. 12-89, as part of his Tax Reform Program. Wasting no time, the Chamber mounted a strong public protest spearheaded by then CREBA president Charlie Gorayeb and …
Over the years, CREBA mounted strong opposition to the imposition of onerous land taxes, which would have made housing completely unaffordable by the low- and middle-income groups. These taxes included the Creditable Withholding Tax (CWT), the Land Conversion Tax, and the VAT. Congress subsequently shelved the proposed land conversion tax; the CWT was rationalized to …
Towards Sensible Fiscal & Monetary Interventions Read More »
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