VAT on Condominium Association Dues, Fees & Assessment Charges

hello everyone,

Please be advised on Bureau of Internal Revenue’s newly released Revenue Memorandum Circular No. 65-2012 now stating that Condominium Corporations collection of association dues and fees paid by members and tenant form part of the gross income of the latter and is subject to income tax.  Therefore, association dues, membership fees and other assessment charges / fees are now subject to VAT ……

Click on the link for the complete revenue memorandum…

ftp://ftp.bir.gov.ph/webadmin1/pdf/66019RMC%20No%2065-2012.pdf

 

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