SunStar Publishing Inc.
In a study conducted by the Statista Research Department, the gross value added generated from the real estate industry in the Philippines reached approximately P536.4 billion as of 2022, fueled by a steady growth in the purchasing and investing power of Filipinos, particularly from overseas Filipino workers, in real estate properties.
Further, real properties seized by the government in the exercise of its regulatory functions that were eventually sold through public auctions are not considered “stock in trade/inventory” in the ordinary course of trade or business, hence shall not be considered part of the government’s ordinary asset.Issuance of sales invoice or official receiptSellers of real properties classified as ordinary assets are required to issue sales invoices pursuant to Section 237 of the NIRC, as amended.
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