User talk:Andot

TO ALL READERS AND VISITORS OF THIS SITE:

Good day and Good Bless.

I am Alejandro Tagab Laganson, Sr., a native Lomanoy, Lila, Bohol. I am here as a permanent resident of Davao City after I graduated my College Course at St, James College, Tagbilaran City. I landed a job at the logging firm of Mr. Isaac T. Robillo,Sr., the Maguindanao Timber Products, Inc. I stayed there from 1966 as a Cost Clerk and left that Office after staying for 17 years as a Chief Accountant. While at that Office, I passed the following government examination, Third Grade Clerical, Professional Career Examinations, Real Property Assessing Officer and Real Estate Broker Examination.

In 1987 with my 4 civil service eligibilities, I landed a government job at the City Assessor's Office, Davao City I started as a Real Property Appraiser. Barely a year and a half, I was designated District Assessor of Calinan District. Then years later, Baguio and Marilog Districts were added to my area of responsibilities. After 9 years of staying in Calinan District as my home based, I was transferred to Tugbok District, where I stayed for another 9 years. It was in this District that I was recognized by the City government as the 1997 Outstanding government Employee of Davao City. It was also in this District that I won First Category in the Five S Competition for three consecutive years. This was a laudable program launched by the city government of Davao City to improve the services to the people.1 and retired as Local Operations Officer IV in 2006, or a total of 19 years. With this, I will be able to share to you the importance of knowing issues and concerns about how our real properties are valued and taxed by the government. Thanks to the owner of this Website. Praise God.....

TO ALL PROPERTY OWNERS, STUDENTS AND RESEARCHERS, VISITORS OF THIS WEBSITE:

This blog is dedicated to all real property owners, administrators, researchers, bank managers, students, my fellow realtors and the website visitors who may have some questions regarding real property valuation and management.

After my seventeen years (17) years as employee of the Accounting Department of MaguindanaoTimber Products, Inc., a Davao based Logging firm, a family owned corporation of the late Isaac T. Robillo of Nueva Ecija and the late Socorro G. Robillo of Cateel, Davao Oriental., and in addition to my employment with the City Assessor's Office for nineteen (19) years AS A REAL PROPERTY APPRAISER, I find it fulfilling to share with everyone the thing I knew about real property valuation and taxation.

Yes you can ask questions relating to real property valuation and taxation. Invite your friends about this good news. You can be assured that you and those you are inviting will get a professionally explained answers. If for some reason, I find it too hard to give one, I will refer you to the best authoritative person on the subject matter asked.

So you can now start the ball rolling.

From Editor: I listed your name as Andot Realty inquiries.

SUMMARY OF TAX PAYMENT DEADLINES OF THE BUREAU OF INTERNAL REVENUE

a Compilation by:

THIS IS MY CONTRIBUTION TO THE ADMINISTRATION OF PRESIDENT BENIGNO SIMEON C. AQUINO. THELATE PRESIDENT MANUEL L. QUEZON ONCE SAID " CITIZENSHIP IMPLIES NOT ONLY RIGHTS BUT ALSO OBLIGATION TO PAY OUR TAXES PROMP0TL. TAXES IS THE LIFE BLOOD OF THE NATION. IT WOULD BE IMPOSSIBLE FOR OUR COUNTRY TO EXIST.

This will serve as guide for those who intend to do business in the Philippines

KIND OF TAX FREQUENCY DATE OF PAYMENTS of PAYMENTS A) Individual Income Tax 1 From Compensation Annually 15-Apr 2 Self-Employed First Quarter Quarterly April 15 -current year Second Quarterly August 15-current year Third Quarterly November 15-current year Fourth Quarterly April 15-the following year

3 Corporation and Partnership First three(3) Quarters Quarterly Not later than 60 days (Applicable to Calendar and after the end of each Fiscal Year) quarter

Annual Calendar Annual 15-Apr Fiscal Annual Not later than the 15th of the 4th month, following the end of the fiscal year

4 Withholding Tax Monthly-Jan Within 10 days after end Wages, Expanded Withholding to November of each month Tax and Final Tax December Not later than the 15th day of the following year

5 Value Added Tax Monthly Not later than the 20th of the following month Quarterly Not later that the 25th following the quartter (for verification) 6 Percentage Monthly Not later than the 20th of each month

7 Capital Gains Per Transactions Within 30 days from the date of sale per Deed of Sale

8 Ddocumentary Stamps Per Transactions Within 5 days ater the end of the month transaction

9 Estate Tax Per Transactions Within 180 days from the death of the deceased

10 Donor's tax Per Transactions Within 30 days from the date of the donation(Refer to the Deed of Donations

11 Annual Registration Fee Annually Upon registration and every beginning of the year thereafter

SUMMARY OF TAX PAYMENT DEADLINES OF THE BUREAU OF INTERNAL REVENUE

a Compilation by:

THIS IS MY CONTRIBUTION TO THE ADMINISTRATION OF PRESIDENT BENIGNO SIMEON C. AQUINO. THELATE PRPESIDENT MANUEL L. QUESON ONCE SAID " CITIZENSHIP IMPLIES NOT ONLY RIGHTS BUT ALSO OBLIGATION TO PAY OUR TAXES PROMP0TL. TAXES IS THE LIFE BLOOD OF THE NATION. IT WOULD BE IMPOSSIBLE FOR OUR COUNTRY TO EXIST.

This will serve as guide for those who intend to do business in the Philippines

KIND OF TAX FREQUENCY DATE OF PAYMENTS of PAYMENTS A) Individual Income Tax 1 From Compensation Annually 15-Apr 2 Self-Employed First Quarter Quarterly April 15 -current year Second Quarterly August 15-current year Third Quarterly November 15-current year Fourth Quarterly April 15-the following year

3 Corporation and Partnership First three(3) Quarters Quarterly Not later than 60 days (Applicable to Calendar and after the end of e ach Fiscal Year) quarter

Annual Calendar Annual 15-Apr Fiscal Annual Not later than the 15th of the 4th month, following the end of the fiscal year

4 Withholding Tax Monthly-Jan Within 10 days after end Wages, Expanded Withholding to November of each month Tax and Final Tax December Not later than the 15th day of the following year

5 Value Added Tax Monthly Not later than the 20th of the following month Quarterly Not later that the 25th following the quartter (for verification) 6 Percentage Monthly Not later than the 20th of each month

7 Capital Gains Per Transactions Within 30 days from the date of sale per Deed of Sale

8 Ddocumentary Stamps Per Transactions Within 5 days ater the end of the month transaction

9 Estate Tax Per Transactions Within 180 days from the death oof the deceased

10 Donor's tax Per Transactions Within 30 days from the date of the donation(Refer to the Deed of Donations

11 Annual Registration Fee Annually Upon registration and every beginning of the year thereafter

HOW ARE REAL PROPERTY VALUED AND TAXED BY THE ASSESSOR

In order to have a little knowledge of how our property are valued and taxed by the Assessor, the following illustration will be of help.

For Lands

The Schedule of Market Value for Land in C. M. Recto Street is Php 1,000 per sqm. If yo have a 1,000 square meters along the street, the Market Value will be computed as follows:

A) Market Value= Area x Schedule of Market Value 1,000 sqm x Php 1,000 or Php 1,000,000

B) Assessed Value= Market Value x Assessment level Php 1,000,000 x 10% or Php 100,000

C)Annual Tax Due= Assessed Value x Tax Rate (For Davao City it is 2 1.1/2 percent

Php 100,000 x .025 or Php 2,500

For Building

Cost of the new Building per Building Permit Php 5,000,000

In a city, the assessment level and the tax rate is approved by the the Sangguniang Panglungsod. We will assume that in a city the Assessment level is as follows:

Not more than Php 175,000= 0%

Over 175,000 but not over 500,000 10% Over 500,000, but not over 2,000,000 20% over 2,000,000 but not over 5,000,000 25%

Computatios:

A) Market Value=Since, it is new, the value is based onthe building permit

B)Assessed Value 5,000,000 x 25% or Php 1,250,000

C)Annual Tax Due

Php 1,250,000 x .025 or Php 31,250.00