Summary
RMC No. 36-2011 clarifies BIR Rulings on socialized housing under Republic Act No. 7279 by stating the price ceilings for house and lot packages and for lots only.
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Key points
- Ceiling for house and lot. A socialized housing unit may not exceed P150,000.00, now P400,000.00 under HUDCC Memorandum Circular No. 1, Series of 2008, as implemented by RMC No. 30-2009. The ceiling is subject to periodic adjustment by the HLURB.
- Ceiling for lots only. For sales of homelots only, the price may not exceed forty percent (40%) of the house and lot ceiling, which is P160,000.00 per lot based on P400,000.00.
Who is affected
- Sellers of socialized housing units and homelots
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.