PRE-SELLING OF REAL EXTATE PROPERTIES

 Pre-selling of real estate properties by real estate dealers shall be subject to value added tax.

Real Estate Dealer – any person engaged in the business of buying, developing, selling, exchanging real
properties as principal and holding himself out as a full or part-time dealer in real estate.

PROPERTY IN-TRUST AND TRANSACTION DEEMED SALE

TRANSACTIONS
Not subject to VAT Subject to VAT
 Transmission of property to a trustee  Transferred for sale
 Transferred for lease or use in the course
of trade or business
 Transfer that constitute