MANILA (Philippine Daily Inquirer/ANN): The country’s housing chief is appealing for an extension of the tax perk for purchases of residential units worth P2 million (US$40,000) and above next year in order to keep prices affordable amid a pandemic-induced recession hurting both supply and demand.
In a letter to Finance Secretary Carlos Dominguez III last July, Department of Human Settlements and Urban Development (DHSUD) Secretary Eduardo Del Rosario sought to retain the prevailing value-added tax (VAT) exemption on the sale of low-cost housing and house-and-lots within the P3,199,200 threshold.