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Percentage tax is a business tax imposed on persons or entities/transactions: who sell or lease goods, properties or services in the course of trade or business and are exempt from value-added tax (VAT) under Section 109 (w) of the National Internal Revenue Code, as amended, whose gross annual sales and/or receipts do not exceed Php 3,000,000 ...
The first iteration of the LTFRB was established on November 17, 1902, through the passing of Act No. 520. [2] The commission is in charge of classifying vessels, merchandise, and passengers in with reference to transportation under the coastwise trade, and fixing the maximum rates to be imposed on the vessels and merchandise of different classes, and people that are being moved from one point ...
This is true whether you have an extensive rental business with apartment buildings and multiple units or if you simply rent out a spare room in your house. But to help offset that income, the IRS ...
The LTO is responsible for the registration of motor vehicles and renewals. It can register brand new vehicles, including locally manufactured vehicles, imported vehicles, light electric vehicles, low speed vehicles, three wheeled vehicles, and tax exempt vehicles. Each category has an obligatory set of requirements and procedures to follow to ...
Expressways in the Philippines have a passing lane designated for overtaking and lanes designated for slow-moving vehicles. [13] This however does not apply to public roads by default. Section 3 of DPWC AO No. 1 s. 1968 states that slow-moving vehicles on expressways must use the right lane and use the left lane only when passing. [13]
Another common rental property is a free-standing commercial building leased to a single tenant. These properties can range from a small retail property to a larger industrial or office building.
The sale of land is governed by the laws and practices of the jurisdiction in which the land is located. Real estate called leasehold estate is actually a rental of real property such as an apartment, and leases (rental contracts) cover such rentals since they typically do not result in recordable deeds .
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