VAT exemption sa pagbebenta ng house and lot at iba pang residential dwellings, itinaas ng BIR
VAT exemption sa pagbebenta ng house and lot at iba pang residential dwellings, itinaas ng BIR
Category
🗞
NewsTranscript
00:00 The Bureau of Internal Revenue or BIR has increased the selling price threshold for value-added tax or VAT exemption
00:07 in the sale of house and lot and other residential dwellings.
00:11 The threshold has increased to Php 3,600,000 from the previous Php 3,199,200.
00:19 This is according to the National Internal Revenue Code,
00:22 which requires a threshold of three years based on the Consumer Price Index.
00:28 According to BIR Commissioner Romeo Lumagi Jr.,
00:31 this change shows the agency's dedication to the effective service of paying taxes.
00:39 [music]