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    Global Daily Tax News, Philippines Expands Residential Property VAT Exemption, (Jan 22, 2024)

    The Philippines Bureau of Internal Revenue (BIR) has issued regulations to raise the threshold for residential property sales to be exempt from value-added tax.

    The threshold has been raised from PHP3,199,200 to PHP3.6m, in Revenue Regulations No. 1- ...

    The Philippines Bureau of Internal Revenue (BIR) has issued regulations to raise the threshold for residential property sales to be exempt from value-added tax.

    The threshold has been raised from PHP3,199,200 to PHP3.6m, in Revenue Regulations No. 1-2024.

    The threshold is revised every three years in line with inflation.

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