BATANGAS — Individuals transferring ownership of properties by way of succession would not need to pay for charges and interests for delayed payment of transfer taxes as the Sangguniang Panlalawigan acted on it with promptness, September 2.
In a regular session Monday, the Sangguniang Panlalawigan passed for third and final reading a tax relief on the matter entitled “An Ordinance Granting Relief on the Payment of Surcharges and Interests on Local Tax on Transfer of Real Property Ownership to align with the Implementation of the Extension of the Estate Tax Amnesty Program under the Republic Act No. 11956 and the Department of Finance Circular No. 002-2024.”
Philippine Councilors League – Batangas Federation president melvin Vidal, chairman of the Committee on Ways and Means, said the measure will greatly help the taxpayers cope up with the long list of payables when transferring properties.
However, Vidal made it clear that the relief is applicable only to the transfer of property ownership by way of succession and not cover ordinary transfer of ownership by way of absolute sale.| – Joenald Medina Rayos
