Philippine Real Estate Question: delayed payment on real property tax



Question:

I have a question about paying the real property tax, what would be the punishment to the owner of a land if he delayed to pay his land within 10 or more years?

Answer:

You have to pay the interest equivalent to 2% per month on the basic tax, but in no case shall exceed 36 months.

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Documentary Requirement – Bureau of Internal Revenue (BIR) Philippines A. Mandatory Requirements (Taxable/Exempt) B. Additional Requirements: If applicable For Personal Properties Proof of valuation of shares of stock at the time of donation a. For listed stocks – certification of the price index from the PSE/latest FMV publishes in newspapers