BIR Penalty

netscapade · 1 BIR Penalty Wed Nov 18, 2009 10:51 pm

netscapade

Arresto Menor

Posts : 2
Join date : 18/11/2009

Hi,

Need an advice regarding a Deed of Sale, duly notarized 3 years ago but not registered right away. I've heard that there's a BIR penalty for this 25% surcharge and 20% interest per annum. Is there any other way to avoid such penalty, I just happen to know the penalty just recently. I really can't afford the penalty. The reason why we opt for Deed of Sale is for my sisters to subdivide the lot that my father owns, we thought that with the Deed everything is settled then. Not knowing that there's a penalty for the delay to register the Deed of Sale.

Pls help!!!

Thanks!

trina · 2 Re: BIR Penalty Thu Nov 19, 2009 9:27 pm

trina

Arresto Mayor

Posts : 65
Join date : 09/09/2008

you can disregard the old deed of sale and execute a new one basta di nyo pa na submit ung old deed of sale sa BIR. Capital gains tax should be paid within 30 days from date of sale tapos ung doc stamps within the 5th day of the succeeding month when the deed was executed

netscapade · 3 Re: BIR Penalty Thu Nov 19, 2009 10:42 pm

netscapade

Arresto Menor

Posts : 2
Join date : 18/11/2009

Thank you Trina! what a relief! The old Deed of Sale not yet submitted to BIR yet.

Smile

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BIR Penalty

1 BIR Penalty Wed Nov 18, 2009 10:51 pm

netscapade

2 Re: BIR Penalty Thu Nov 19, 2009 9:27 pm

trina

3 Re: BIR Penalty Thu Nov 19, 2009 10:42 pm

netscapade

4 Re: BIR Penalty

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