Comparative analysis of Philippines 1997 tax code & amendments & repeals introduced by tax reform for acceleration & inclusion law

§Sale of goods to PEZA-0%

§VAT exempt sale of residential lot-not more than Php 1,919,200.00

§VAT exempt sale of residential house & lot-Php 3,199,200.00

§VAT exempt lease of residential unit-Php 10,000.00

§Association dues, membership fees & other assessments & charges of homeowner’s association & condominium corporation-vatable

§Transfer property pursuant to Section 40 (C) (2) of the Tax Code on tax-free exchange-vatable

§Sale of medicines-12% VAT