House and lots worth P3.9M exempt from VAT

Jan 18, 2024 12:31 am

THE value-added tax (VAT) exemption threshold for house purchases has been raised to P3.9 million following a mandated review by the Bureau of Internal Revenue (BIR).

The cap, raised from the previous P3,199,200, 'shows our commitment to excellent taxpayer service,' BIR Commissioner Romeo Lumagui Jr. said in a statement.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

Growth 'probably' below target – Recto

Caution seen prevailing as investors await cues

Demand, investments seen driving PH economic growth

Timing of debt a challenge this year

Preliminary data: Debt service burden 20% up as of end-Oct

Food price increases minimal so far

Passenger, cargo fuel surcharges to remain at Level 4 next month