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Or the property rights were acquired by the testator. The regulations also cover the issue of market price volatility and possible discrepancies between the information contained in the documentation (such as a notarial deed) and the actual situation. Therefore, Art. of the Personal Income Tax Act assumes that income from, among others, paid sale of real estate or property rights is their value expressed in the price specified in the contract, less the costs of paid sale.
If the price, without a specific reason, differs significantly from the market value of these things or rights, this revenue is philippines photo editor determined by the tax authority or the fiscal inspection authority in the amount of the market value. In such a situation, the opinion of experts appointed in a given case is taken into account. If the value determined in this way differs by at least % from the value expressed in the price, the costs of the opinion of the expert or experts shall be borne by the seller. Housing relief It is also worth mentioning Art. ( )( ) of the Personal Income Tax Act which reads: Income from the sale of real estate and property rights referred to in Art.
In the amount corresponding to the product of this income and the share of expenses incurred for own housing purposes in the income from the paid disposal of real estate and property rights, if, starting from the date of paid disposal, no later than within three years from the end of the tax year in which the paid disposal, the income obtained from the sale of this property or this property right was spent for own housing purposes; documented expenses incurred for these purposes are included in the amount of income from the paid sale of real estate and property rights.
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發表於 2023-10-9 16:47:24