| Council Welcomes Covid-19 Act
“It is good” that the Covid-19 Act has temporarily suspended “contractual rights under Part 2 of the Act in order to allow all parties to review their respective positions and consider the best way to move forward”.
Under the Tax Reform for Acceleration and Inclusion (Train) Act of 2017, the value-added tax (VAT) exemption threshold for sales of residential dwellings shall be lowered from P3.199 million to P2.0 million starting next year.
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