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REVENUE MEMORANDUM CIRCULAR NO. 65-2012

Clarifying the Taxability of Association Dues, Membership Fees, and Other Assessments/Charges Collected by Condominium Corporations

RMC No. 65-2012 | 2012-10-31

REPUBLIC OF THE PHILIPPINES
DEPARTMENT OF FINANCE
BUREAU OF INTERNAL REVENUE

October 31, 2012

REVENUE MEMORANDUM CIRCULAR NO. 65-2012

SUBJECT: Clarifying the Taxability of Association Dues, Membership Fees, and Other Assessments/Charges Collected by Condominium Corporations

TO: All Revenue Officials, Employees and Others Concerned

This Circular is issued to clarify the taxability of association dues, membership fees, and other assessments/charges collected by condominium corporations from its members and tenants. 

BACKGROUND

The Bureau has several rulings exempting from income tax the assessments/charges collected by condominium corporations...