How the Ease of Paying Taxes Act Will Revolutionize Real Estate in the Philippines

The “Ease of Paying Taxes Act” (Rep. Act No. 11956), signed by Pres. Marcos, Jr. in January 2024, streamlines tax administration in the Philippines, particularly for real estate transactions. It categorizes taxpayers, simplifies filing, and promotes online compliance, aiming to reduce confusion, encourage tax compliance, and facilitate property transactions.