As the new year begins, real estate practitioners in the Philippines must prioritize legal compliance, particularly the payment of the professional tax mandated by Local Government Code. This tax, applicable to all licensed professionals, must be paid annually by the end of January. Compliance ensures the right to practice nationwide without additional penalties. Professionals are also exempted from business permits from the LGU once the professional tax has been paid.
Tag Archives: Professional Tax Receipt
Strengthening Online Compliance: Can the New Internet Transactions Act End Colorum Practice?
The article discusses the impact of Republic Act No. 11967, also known as the Internet Transactions Act of 2023, on online real estate transactions in the Philippines. The law aims to protect consumers and merchants engaged in internet transactions, and it establishes regulations for electronic commerce and online advertising. The article urges licensed real estate practitioners to support the implementation of the law and addresses the importance of providing accurate information in online real estate marketing.
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