Lesson learned - Philippines taxes are not subject or applicable to legislative laws but on seller/buyer agreements.
Bullshit. What's the point in creating a law when it's not even being enforced by the departments tasked to enforce them. Only good paper shufflers.
Next time I end up with wanting to buy land, best make sure to get these tax matters resolved before signing anything.
Basically it's the parties that do the collection for a lazy day department doing the bare minimum to look like they are progressing and collecting taxes for the Philippine government.
So basically one big thing in learning is of I buy something and then when the price goes through the roof I can pretty much ignore passing capital gains tax of I studied through the agreements and not broach the subject because it falls to the buyer to pay for me from the profits in getting.
Tax free money. Total bullshit.
#bir the best department to let fraud slip out of their fingers. Good job.
Anyway that's my rant after learning this very savvy way of dodging Philippine tax.
I'll take this as an opportunity to ensure a hard lesson learned is not wasted. This mantra repeated so I stay calm and collected as I fork out more find into a countenance department that's hellbent on getting money even if it's ill gotten.
Do better Philippines, do better.