JUNE 13, 2024 marked a pivotal day in Philippine taxation as this was when President Ferdinand Marcos Jr. signed into law Republic Act 12001, also known as the Real Property Valuation and Assessment Reform Act (RPVARA). The groundbreaking legislation is set to revolutionize the country's previous real property tax system.
JUNE 13, 2024 marked a pivotal day in Philippine taxation as this was when President Ferdinand Marcos Jr. signed into law Republic Act 12001, also known as the Real Property Valuation and Assessment Reform Act . The groundbreaking legislation is set to revolutionize the country's previous real property tax system.The RPVARA aims to upgrade the previous valuation system and establish a uniform valuation standard for real property assessments.
This increased transparency will help reduce illegalities and unethical practices, building trust between taxpayers and government agencies.
Era For Philippine Real Property Taxation
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