for those that are not informed, please be advised that when selling a property in the city of Taguig, there is a “City Tax” also know as business tax charged by the City of Pasig, then Quezon City followed suit. other cities to follow sooner or later !
this is normally for the Seller’s account but it really depends on the negotiation of the deal being made.
this is more or less .4% of the selling price ( more or less ) and is an amount that is nornmally not factored in when Seller wants to know what their NET amount will be after all expenses have been deducted.
unfortunately, real estate taxes, value added tax and other expenses are most always for the lookout of the Seller so please take the time to check with the following offices when dealing with a sale :
1) Bureau of Internal Revenue
2) City Treasurer’s Office
3) Register of Deeds
finally, please make sure you have the proper authority to transact when requesting for documents such as certified true copies of title and tax declaration, tax clearance, and others that may be required for the transfer of title to the new owner.
have a great day !
robert
Robert G. Sarmiento Realty
Professional Affiliation :
Real Estate Broker’s Association of the Philippines
President, Greenhills Chapter, 2008 – 2009
02 5148481 ( direct line )
+63 2 5536051 ( trunkline )
+63 2 8561365 ( telefax ) +63 2 4781316 ( line 3 )
+63 920 9064829 ( smart ) +63 917 5364829 ( globe )
email : roberts@surfshop.net.ph
http://www.robertgsarmiento.org http://www.philippinecommercialproperties.com
http://condosphil.wordpress.com http://philippineoffices.wordpress.com http://philippinetownhouse.wordpress.com http://foreclosuresphilippines.wordpress.com
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