Revenue Regulation No. 16-2011 (October 27, 2011)
The BIR increased the threshold amounts for Value-added Tax ('VAT') exemption of the following transactions: (a) sale of residential lot with gross selling price not exceeding P1,919,500.00; (b) sale of residential house and lot or other residential dwellings with gross selling price not exceeding P3,199,200.00; (c) sale or lease of goods or properties or the performance of services with gross annual sales and/or receipts not exceeding P1,919,500.00; and d) lease of residential units with a monthly rental per unit not exceeding P12,800.00, regardless of the amount of aggregate rentals received by the lessor during the year (but the same shall be subject to 3% percentage tax.)
Where the lessor has several residential units for lease, the gross receipts from rental not exceeding P12,800.00 per month per unit shall be exempt from VAT regardless of the aggregate
annual gross receipts. The gross receipts from rentals exceeding P12,800.00 per month per unit
shall be subject to VAT if the aggregate annual gross receipts from said units only (not including the gross receipts from units leased for not more than P12,800.00) exceeds P1,919,500.00. Otherwise, the gross receipts will be subject to the 3% percentage tax.
Revenue Memorandum Order No. 55-2011 (November 10, 2011)
For purposes of reckoning the one-year redemption period on the foreclosed asset of natural persons and the period within which to pay Capital Gains Tax or Creditable Withholding Tax and Documentary Stamp Tax on the foreclosure of Real Estate Mortgage, the same shall be counted from the date of registration of the sale in the Office of the Register of Deeds.
For juridical persons in an extrajudicial foreclosure the General Banking Law of 2000, its right of redemption shall be until, but not after, the registration of the certificate of foreclosure sale with the appropriate Register of Deeds which in no case shall be more than 3 months after foreclosure, whichever is earlier. In Commissioner of Internal Revenue vs. United Coconut Planters Bank (G.R. No. 179063 dated 23 October 2009) the Supreme Court ruled that it shall begin from the date of approval by the executive judge.
Revenue Regulation No. 18-2011 (November 21, 2011)
All VAT-registered taxpayers who are required under Section 237 of the 1997 Tax Code, as amended, to issue sales or commercial invoices or official receipts should separately bill the VAT corresponding thereto. The amount of the tax shall be shown as a separate item in the invoice or receipt.
Failure or refusal to comply with the requirement shall, upon conviction, for each act or omission, be punished by a fine of not less than P1,000.00 but not more than P50,000.00 and suffer imprisonment of not less than 2 years but not more than 4 years.