MANILA, Philippines - Low-income renters and small property owners are still safe from the impact of the government’s tax reform program and are still exempt from paying value-added tax (VAT), the Department of Finance (DOF) said yesterday.

In a statement, Finance Undersecretary Karl Kendrick Chua said despite the removal of VAT-exemption for property developers of socialized housing, House Bill 5636 or the Tax Reform for Acceleration and Inclusion (TRAIN) Act still ensures that apartments and other property rentals of P10,000 and below would remain exempt from VAT.

Read more on: www.philstar.com