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    Date: 2022-07-08 10:16:13.653676

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    Date: 2022-07-11 16:37:40.527665

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Documentary Requirements and Taxes for Assignment of Contract to Sell from Individual to Corporation

Requested from BIR by M. Repollo at 10:16 AM on Jul 08, 2022.
Purpose: For reference and compliance purposes
Date of Coverage: 07/08/2022 - 07/08/2022
Tracking no: #BIR-669625375800

Repollo 10:16 AM, Jul 08, 2022 

Hi,

I am currently working for a real estate who sells residential condo units. We have a buyer who pays on installment basis her unit and would want to reassign her rights to purchase to the corporation she is currently associated with. The corporation is willing to assume the unit and pay the remaining balance of the unit.

In this regard, I would like to know what are the documentary requirements needed in order to effect the transfer and if there are corresponding taxes that need to be paid. I want to know this in order to avoid issues later on when we process the ECAR.

Thank you!

Du 04:37 PM, Jul 11, 2022 

July 11, 2022

Dear May Flor Repollo:

Thank you for your request dated Jul 08, 2022 under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for Documentary Requirements and Taxes for Assignment of Contract to Sell from Individual to Corporation.

We received your request on Jul 08, 2022 and will respond on or before Jul 29, 2022 10:16:13 AM, in accordance with the Executive Order's implementing rules and regulations.

Should you have any questions regarding your request, kindly contact me using the reply function on the eFOI portal at https://www.foi.gov.ph/requests/aglzfmVmb2ktcGhyHQsSB0NvbnRlbnQiEEJJUi02Njk2MjUzNzU4MDAM, for request with ticket number #BIR-669625375800.

Thank you.

Respectfully,

Sherry Ann Cuyos
FOI Officer

Revenue District Office 04:50 PM, Jul 11, 2022 

July 11, 2022

Dear May Flor Repollo,

In reference to your letter dated Jul 08, 2022 10:16:13 AM about your request under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for Documentary Requirements and Taxes for Assignment of Contract to Sell from Individual to Corporation. Please contact our Officer of the Day, (032) 232- 5029 for further queries in this matter.

Thank you.

Respectfully,

RDO-81/Cebu City North Revenue District Office
FOI Officer

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