Legal Question in Tax Law in Philippines

Hi, I have a question regarding on rental property e.g. condos for rent. What would be the minimum requirement for implementing the tax for rental units? Meron po bang guidelines by law on imposing tax on renting your property? Thanks for immediate response!

Asked on 7/09/13, 12:07 am

1 Answer from Attorneys

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Yes, you should withhold the income tax out of the said rental payments and remit it to the BIR. As to increase the rental law allows 10% increase a year.

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Answered on 7/09/13, 7:32 am

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