[Your] ability to learn, and translate that learning into action rapidly, is the ultimate competitive business advantage.

– Jack Welch, Former CEO of General Electric

By Ernesto C. Perez II

 


 

Last year I wrote several posts in the beginning of 2012 highlighting the following:

Reminders to all Licensed Real Estate Service Practitioners – brokers, appraisers, consultants, and Government Assessors; and

The reasons why Licensed Real Estate Service Practitioners should register with the Bureau of Internal Revenue.

As January 2013 comes to a close, we hope that as licensed professionals you would have already done what is required of us to do before the end of this month. You should have paid your annual registration fee of P500.00 with the Bureau of Internal Revenue (BIR) and renewed your Business Permit (Mayor’s Permit) at the Local Government Unit (LGU) where your business is situated.

As licensed professionals under the ambit of Republic Act No. 9646 [Real Estate Service Act] we are required to be registered with the BIR, at the very least.

BIR Logo

Registration with BIR makes us legitimate. It is what differentiates us from “pseudo-brokers” – the unlicensed and fly-by-night people lurking everywhere especially in the World Wide Web.

RESA is the law that properly and effectively regulates and supervises licensed Real Estate Service Practitioners (RESP). Therefore, registration makes us professionals. We have heard it again and again, the foremost reason why RESA was passed in the first place is to PROFESSIONALIZE the practice.

As licensed professionals we should change our mindset: STOP LOOKING AT YOURSELF AS A REAL ESTATE BROKER (OR APPRAISER OR CONSULTANT) AND INSTEAD START LOOKING AT YOURSELF AS A BUSINESS OWNERBecause this is how BIR looks at you.


Take a look at this Guide On How To Register Your Business Or As A Professional. We hope that will answer all your questions on what are the procedures, what are the documentary requirements, how much it will cost and how long will it take to register.

We implore every licensed brokers, appraisers and consultants to register with BIR, as 2013 is the year the BIR is gearing up to increase its tax collection on individual taxpayers.

The incidence of tax evasion among the country’s three million registered professionals is high, according to the BIR. And having secured their first conviction for  tax evasion using the “willful blindness” ruling, as affirmed by the Supreme Court, the BIR is more emboldened to run after tax evaders especially from professionals – like lawyers, doctors and RESPs.

Be a true blue professional, register yourself or your real estate business now.

Registration is a hallmark of a “responsible and respected professional real estate service practitioners whose standards of practice and service shall be globally competitive and will promote the growth of the real estate industry.”