Real estate transfer taxes are based on the purchase price if it is a purchase. Otherwise, it is based on the market value of the property to be transferred. In addition, leasehold transfers of property for a period of 35 years or more are subject to land transfer taxes. If the person completing the form is requesting an exemption, is the exemption valid? Copies of trust and incorporation documents of a legal entity (e.g. LLC operating agreement, bylaws/minutes/business records, partnership agreement) to prove the requested transfer tax exemption are always required. Please note that the exemptions from the new assessment and the exemptions from the land transfer tax may be different. Filing deadline: At the time of filing a deed (of all types), a lease, a concession of easement, an assignment of lease, an assignment of sublease or an unincorporated legal person, even if no transfer tax is due. The purpose of this form is to explain the nature of the transaction and to determine whether the transfer is taxable. The Tagalog version is provided for illustrative purposes only.
Please submit your affidavit for land transfer tax in English.