Bureau of Internal Revenue(BIR)

Browse over 9656 from this government agency

Go Back

REQUEST
SUBMITTED

You have submitted an FOI request

Date: July 8, 2022, 10:16 a.m.

PROCESSING
REQUEST

Your request is already in review

Date: 2022-07-11 16:50:11.000000

REQUEST
CLOSED

Your request was closed

4

RATE YOUR
REQUEST

How was your request?

Documentary Requirements and Taxes for Assignment of Contract to Sell from Individual to Corporation

Published by Bureau of Internal Revenue(BIR) on July 8, 2022.
Requested from BIR by M. Schonewille at 10:16 AM on July 8, 2022.
Purpose: For reference and compliance purposes
Date of Coverage: 07/08/2022 - 07/08/2022
Tracking no: #BIR-669625375800

M.REPOLLO July 8, 2022, 10:16 a.m.

Hi, I am currently working for a real estate who sells residential condo units. We have a buyer who pays on installment basis her unit and would want to reassign her rights to purchase to the corporation she is currently associated with. The corporation is willing to assume the unit and pay the remaining balance of the unit. In this regard, I would like to know what are the documentary requirements needed in order to effect the transfer and if there are corresponding taxes that need to be paid. I want to know this in order to avoid issues later on when we process the ECAR. Thank you!

R.REVENUE DISTRICT OFFICE July 11, 2022, 4:50 p.m.

July 11, 2022 Dear May Flor Repollo, In reference to your letter dated Jul 08, 2022 10:16:13 AM about your request under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for Documentary Requirements and Taxes for Assignment of Contract to Sell from Individual to Corporation. Please contact our Officer of the Day, (032) 232- 5029 for further queries in this matter. Thank you. Respectfully, RDO-81/Cebu City North Revenue District Office FOI Officer

Is this request offensive?

Requests for personal information and vexatious requests are not considered valid requests for Official Information.

If you believe this request is not suitable, you can report it for attention by the site administrators.