In the Philippines, Real Property Taxation is governed by the provision of Real Property Tax Code under PD No. 464. This has been amended by the Local government Code of 1991, most specifically under Title Two-Real Property Taxations
Definition of Real Property
Real Property is broad, however for purposes of discussions, It includes land and buildings (immovables) and those attached to the soil like trees, plants and growing fruits, It also includes machineries or implements for an industry so that work may carried out. Under the local government code, Logging Machineries although not attached to the land, yet essential to the operation of the logging compnnies are taxable
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