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Help please po, naguguluhan kasi po ako...

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1 Help please po, naguguluhan kasi po ako... on Sat Jul 20, 2013 2:43 pm


Arresto Menor
Bali po kasi may nabili kaming 85 sq. m. na lupa sa Biyenan ng tita ko in installment basis pero nakamatayan na po yun ng matanda, bali itinuloy po namin yung hulog sa anak(heir) dahil sa kanya na po pinalipat ang pangalan sa title sa pangalan niya at nabayaran namin lahat plus yung hiningi pang addition para sa ESTATE TAX, so ang total ng halaga ng lupa ay umabot ng P204,000, ginawan na din po iyon ng deed of sale at pirmado na po ng seller(heir), ipapanotaryo ko na po kasi sana siya kaso sabi po sa pagpapanotaryohan ay magpepenalty daw po iyon kapag hindi pa kagad naipachange name? Gaano po ba kalaki ang magiging penalty noon? at ano po bang paraan para mailipat na sa pangalan namin yun at maiwasan ang penalty? Salamat po ng marami sa sasagot.

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you can go to the bir to ask for a computation

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Prision Correccional
The lawyer is correct. The question you must asked are:

First, When should these taxes be paid?

- For CGT, the deadline is on the 30th day after the execution(notarization) of the DOAS, for DST, it is on the 5th day of the month after the execution of the DOAS. Transfer Tax is due 60 days after the execution of the DOAS.

Second, Are there penalties if the taxes are not paid on time?

- Yes, a surcharge equal to 25% of the tax due is charged for late payments, plus 20% interest per year on any unpaid taxes, plus compromise penalty (if any, this depends on the BIR officer).

Here's the requirements that you need to secure to transfer the title under your name:

-Notarized Deed of Absolute Sale and photocopies thereof
-Latest tax declaration of the property
-Realty Tax Clearance – to be secure at City Treasurer’s Office, make sure that the real property tax is fully paid/updated, if not, you will not be able to get that clearance.
-Certificate Authorizing Registration (CAR) and 3 photocopies thereof
-This is what the seller got from the BIR after paying the capital gains tax and doc stamp tax
-Receipt from BIR confirming payment of Capital Gains Tax (CGT), Documentary Stamp Tax (DST).
-Receipt from Assessor’s office for the payment of Transfer Tax
-Receipt of payment of the Registry of Deeds Registration Fees.

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