Republic Acts1 min read
Section 15Sec./Art. 15
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VAT on Gross Sales or Gross Receipts of RElTs. - A REIT shall be subject to value - added tax (VAT) imposed under Title IV of the National Internal Revenue Code of 1997, as amended, on its gross sales from any disposal of real property, and on its gross receipts from the rental of such real property. A REIT shall not be considered as a dealer in securities and shall not be subject to VAT on its sale, exchange or transfer of securities forming' part of its real estate - related assets.
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