Summary
RMC No. 30-2009 circularizes the relevant portions of HUDCC Resolution No. 1, Series of 2008, promulgated on December 11, 2008, which adjusts the price ceiling for socialized housing.
Key points
- New price ceiling. The adjusted price ceiling is P 400,000 for socialized housing. It applies to sales of real properties used for socialized housing as defined under RA No. 7279 (Urban Development and Housing Act), RA No. 7835 (Comprehensive and Integrated Shelter Financing Act of 1994), and RA No. 8763 (Home Guaranty Act of 2000), and other related laws.
- Amended issuances. Revenue issuances that specifically mention the old price ceiling, such as RR No. 2-98 as amended by RR No. 17-2001 and RR No. 16-2005, are amended or modified accordingly.
Who is affected
- Sellers of real properties used for socialized housing
Deadlines and effectivity
- Applies beginning January 1, 2009
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.