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Real Estate VAT in the Philippines

By in Davao Real Estate with 0 Comments

When we like to buy a certain particular piece of land or house & lot, we are keen to know certain payment terms included. Aside from the regular package price in the sample computation, you will also notice miscellaneous fees like processing fee and transfer of title. For other certain higher amount, VAT (Value Added Tax) might be applicable.

GetHomePH-Real-Estate-in-davao-Value-Added-Tax-in-the-Philippines

 

If your planning to buy a residential lot only property, the vatable amount is P 1,919,500 pesos.

For residential house and lot, the vatable amount is P 3,199,200 pesos.

And for rentals, the  vatable amount is P 12,800.

For example, if you buy a residential lot at 2,500,000 you will have a 12% VAT

So, 2,500,000 X 12% = P 300,000

Your total payable is 2,500,000+ P 300,000 = P 2,800,000 pesos

That’s how the VAT is computed and added to the total price…

 

–> For your housing needs in Davao, please visit: www.GetHome.ph 

We have friendly available Real Estate Salesperson that can assist you.

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