News

JUL
10
2013

SBN-717: National Internal Revenue Code (Amending Section 109 (A)

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.

 

Download PDF

COMMENT : Off
About the Author