THE Bureau of Internal Revenue (BIR) has recently ruled in BIR Ruling No. 050-2011 that enterprises registered with the Philippine Economic Zone Authority (Peza) that is engaged in leasing activities and enjoys five percent preferential tax regime is exempt from the documentary stamp tax (DST) on its lease agreements. The five percent income tax on its gross income is in lieu of all national and local taxes, and the activity of leasing is its registered activity.
read moreSome local news is curated - Original might have been posted at a different date/ time! Click the source link for details.