Tax on Real Property Sales Rates Update

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BIR REVENUE MEMORANDUM CIRCULAR NO. 16-90: Tax on Real Property Sales Rates Update

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Title Supreme Court: Tax on Real Property Sales Rates Update

Law: Bir Revenue Memorandum Circular No. 16-90

Decision Date: Feb 16, 1990

Jose U. Ong, Commissioner of Internal Revenue, establishes a revised withholding tax structure for real property transactions, allowing a 0% rate for sales under P500,000 and simplifying tax administration for low-cost housing projects effective March 1, 1990.

real property

sales tax

tax regulations

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