3 Major Housing Bills

Since its inception in 1973, the Chamber of Real Estate & Builders’ Associations, Inc. (CREBA) has taken up the cudgels for Philippine real estate and housing on the legislative and policy fronts to shape public and private programs in all income groups particularly for the millions who do not  yet have a home of their […]

House Heeds Call vs. BIR Rulings on Mass Housing

Congressman Rodolfo G. Valencia, Chairman of the House Committee on Housing and Urban Development, filed House Resolution No. 1823. The proposed measure seeks to investigate, in aid of legislation, the perceived “onerous” additional requirement for revenue rulings imposed by the Bureau of Internal Revenue on housing developers that have “led to adverse outcomes” in the […]

NO to requiring BIR Ruling for BOI-registered Housing

To date, developers of mass housing projects continue to suffer the persistent requirement of the BIR to present a ruling issued by its national office for every housing project that is granted exemption from the payment of the Creditable Withholding Tax (CWT).  The ruling is required by the BIR before the issuance of the Certificate […]

CREBA vs. Creditable Withholding Tax

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 […]