“Businesses will not thrive or grow if the administrative matters are left unattended.”

 

– Ernesto C. Perez II, Real Estate Broker, Attorney and Blogger

 


 

 By Realttorney


 

Seen at www.toucharcade.com

It’s the end of the first work week of 2015. It was a busy time especially for professionals (real estate service practitioners [RESPs]) and lawyers like me. It’s time to pay a visit to the Municipal Hall and the Bureau of Internal Revenue. It’s an annual pilgrimage for being licensed professionals.

 

I have written about these things in the past. Check out these articles for additional information on the subject:

 

Reminders As 2012 Rolls In

 

How Does a Licensed Real Estate Broker Register with the BIR

 

First up, at the Indang Municipal Hall I secured my Community Tax Certificate (CTC) or sedula for the common folks out there. Up next, one has to secure a Professional Tax Receipt (PTR) at the office of the Municipal Treasurer, which costs PhP 300.00 (Section 38, Rule IV of the IRR of RESA names PTR as Privilege Tax Receipt.)

 

As a lawyer and licensed real estate broker, I normally get 2 PTRs every year. For those RESPs who are brokers, appraisers and consultants alike, they have to get 3 PTRs in all – one for each of their licensed profession.

 

After getting my sedula and PTRs, a trip to the local office of the BIR was in order to pay the annual registration fee of PhP 500.00. The only thing new with this procedure is the use of the E-Form of 0605. One is no longer allowed to use the old printed forms of the Bureau and must use the electronic forms prescribed in Revenue Regulation No. 6-2014.

 

These annual visits to the Municipal or City Hall and to the BIR are necessary administrative matters that all licensed professional go through at the beginning of the year. So, if you have not secured your sedula and PTR it is best to go first thing Monday morning to your respective local government offices.

 

Meanwhile, one has until January 30, 2015 to pay the annual registration fee. After that, BIR will impose a penalty and surcharge for late filing and payment of E-Form 0605. But why wait for the deadline. Pay as soon as you can so it is done with and you can concentrate on selling properties.

 

Have a great, prosperous and abundant 2015 to all.