Withholding Tax on Real Property Sales

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BIR REVENUE MEMORANDUM CIRCULAR NO. 7-90: Withholding Tax on Real Property Sales

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Title Source: Supreme Court: Withholding Tax on Real Property Sales

Law: Bir Revenue Memorandum Circular No. 7-90

Decision Date: Jan 16, 1990

Effective February 1, 1990, all sales, exchanges, or transfers of real property are subject to a creditable withholding tax, with specific rates and reporting requirements established to enhance revenue collection and prevent non-reporting by exempt sellers.

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