I've read your information on the various taxes listed out, but i just need some clarification which a lot of people and real estate developers can't really answer. I have a pre-selling unit which I purchased a few years back and I’m looking at potentially renting it out.
· I am a non-resident alien. I am also NOT engaged in trade or business in the Philippines, and do not stay in the country for more than 180 days in a year. Am I exempt from paying taxes if I would have my unit rented out? Exemption would be on the Income Tax on income received from Rental?
· As a foreigner, do I have to inform the BIR or only if I have to issue official receipts to my tenant?
· If my annual income is below Php 1.5M and if I’m required to register my rental with BIR, how much is the VAT?
· If the VAT is applicable, do I charge it to my tenant?
· How are Real Property Taxes enforced and how is the RPT paid? (show link on Rental Property Tax)
· As a non-resident alien leasing my unit, am I subject to Income Tax as per my rental income? What would the Income Tax be?
· Can I deduct depreciation, monthly dues and property management fees as well as mortgage before I file my income tax?
· Can I employ someone to handle filing of taxes for me? If so, how much will the service be?
I hope to get a favorable reply from you.