The passage of the National Housing Authority Act (Rep. Act No. 12216) aims to enhance the NHA’s role in addressing the housing backlog in the Philippines, particularly for underprivileged communities. Key provisions include a 50-year corporate term extension, tax incentives, streamlined land management, and improved governance, promising significant impacts on socialized and low-cost housing.
Tag Archives: real estate
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.
Leveraging the One Person Corporation: A Game-Changer for Estate Planning in the Philippines?
The article discusses the One Person Corporation (OPC) in the Philippines, highlighting its benefits such as limited liability protection, simplified management, and estate planning advantages for real estate consolidation. It also addresses potential drawbacks like access to capital and personal liability risks, while emphasizing the importance of strategic succession planning and professional guidance.
From Forebears to Heirs: Bequeathing Property in the Philippines
This article serves as a guide for Filipino-Americans and other expatriates regarding inheritance, estate taxes, and property transfers in the Philippines. It outlines the legal processes for transferring estates with or without wills, highlights the need for estate tax payments, and emphasizes the importance of planning and seeking legal advice to avoid disputes.
Building Smart Sustainable Communities: Key Legislative Updates in the Philippines
The article discusses two significant Senate Bills in the Philippines: Senate Bill No. 65, focusing on creating sustainable cities to meet international standards, and Senate Bill No. 298, aimed at establishing a Smart Philippines for improved digital access. Both align with the Department of Science and Technology’s framework for enhancing urban living through technology and sustainability.
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