An Act Exempting Membership Fees, and Other Assessments/Charges Collected by Condominium Corporations From Value-Added Tax, Amending for the Purpose Section 109 (1) of the National Internal Revenue Code, As Amended, And For Other Purposes
- Exempts membership fees and other assessments/charges collected by Condominium Corporations from the Value-Added Tax (VAT)
- Condominium corporations do not render services for a fee but merely act as managers and trustees of the association dues and fees to be used for maintenance and expenses for utilities.
- These fees do not constitute income payments or remuneration for services rendered by the condominium corporation. Hence, should not be subject to VAT.
COMMENT : Off