1. Income Tax & Withholding Tax
     a. Different Income Taxes on Real Property Transactions
          • Regular Corporate Income Tax
          • Minimum Corporate Income Tax
          • Capital Gains Tax
          • Tax On Dividends (See Details on Item 3)
          • Improperly Accumulated Earnings Tax
          • Income Tax on Estates & Trusts
     b. Global tax system vs. schedular tax system
     c. Nature of Assets: Capital
                                         Ordinary assets
                                       - Transfer for Insufficient Consideration
     d. Original basis and substituted basis of assets
     e. Type of Taxable Persons
          • Corporation
                    I. Engaged in real estate business
                    II. Not Engaged in real estate business
          • Special Entity (e.g. SPV, Trusts)
          • Joint Venture Engaged in Construction Activity
          • Co-Ownership
          • Husband and Wife
          • Condominium Corporation
          • Non-stock, Non-profit Corporation or Association
          • Cooperatives
          • Alien
          • Estate of a Deceased Persons

     f. Tax Exemptions and Tax Incentives
          • Tax Exemption Under the Constitution
          • Tax Exemption Under the Tax Code
                    I. General Professional Partnerships
                    II. Joint Ventures
                    III. Sale of Principal Residence
                    IV. Tax-Free Exchanges
                              i. Types Under the Tax Code
                                        - Merger or Consolidation
                                        - Exchange of Property for Shares of Stocks
                              ii. Conditions for the Availment of Tax Free Exchanges
                              iii. Tax Avoidance vs. Tax Evasion
                              iv. Sale of Real Property vs. Sale of Shares of Stocks
                    V. Local Government Code
                    VI. Special Laws
                              i. BOI
                              ii. BOT
                              iii. PEZA
                              iv. SBMA
                              v. Other Special Laws (CARP, NHA, BMBE, etc)

     g. Real Estate Investment Trust (REIT) Law (RA 9856)
     h. Urban Development and Housing Act (RA 7279)
     i. Real Estate Service Act
     j. Expanded Withholding Taxes: Habitually or Not Habitually Engaged in Real Property Biz
          • EWT Rates
          • Gross Selling Price
          • Installment Sales
          • Time to Deduct and Withhold Tax

2. Deferment of Recognition of Income
     a. Types of Installment Sales
          • Sale on the Installment Plan
          • Sale on Deferred Payment Basis, not on the Installment Plan

3. Dividend Declaration Planning
     a. Types of Dividends
          i. Cash Dividend
          ii. Property Dividend
          iii. Stock Dividend
          iv. Liquidating Dividend
     b. When to Declare Dividend or to Dissolve Corporation
     c. When to Use Subsidiary or Branch of a Foreign Corporation
     d. Ways to Avoid Imposition of Improperly Accumulated Earnings Tax

4. VAT and Other Percentage Taxes
     a. Output tax on sales and leases of real property
     b. Exempt transactions
          i. Sale of capital assets
          ii. Sale of socialized housing and low-cost housing
          iii. Sale of residential lot and residential house and lot
          iv. Lease of residential units
     c. Input taxes
          i. Transitional input tax on land and improvements
          ii. Allocation of input taxes

5. Documentary Stamp Taxes
     a. Person Liable to Tax
     b. Documents/ Transactions Subject to Tax
     c. When Taxable?
     d. Taxable Documents
          • Sale or exchange of real property
          • Lease of real property
          • Mortgage of real property
          • Interest in Real Property
          • Loan agreements
          • Promissory Notes
          • Bonds, Debentures and certificates of Indebtedness
          • Deed of Trust
          • Certificate

     e. Time to Pay DST
     f. Venue for Filing of DST
     g. Certificate Authorizing Registration (CAR)

6. Transfer Taxes
     a. Donor’s tax
          • Donation vs. Inheritance
          • One or Two Donors
          • Donation in One Year or Several Years

     b. Estate tax: Planning and Tax Avoidance Schemes
          • Splitting of Income
          • Deferment of Income or Acceleration of Deductions
          • Tax Incentive Laws
          • REIT law
          • Conversion of Nature of Asset or Income
          • Donation
          • Trust

7. Local Business Taxes and Real Property Tax
     a. Transfer Tax
     b. Local Business Taxes
     c. Real Property Tax
          i. Basic Real Property Tax
          ii. Special Education Fund
          iii. Tax on Idle Land
          iv. Basic Principles
          v. Computation and Basis of Real Property Tax
          vi. Remedies

8. COMPREHENSIVE GUIDE ON TYPES OF REAL PROPERTY TRANSACTIONS & TAX IMPLICATIONS

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