8box Solutions Inc.


Contact Number: 09369340340
Email: sales@8box.solutions

REVENUE MEMORANDUM ORDER NO. 25-2016 issued on June 14, 2016 supplements the rules on the investigation of parties in transactions involving the transfer/assignment/sale of properties provided for in Section 1 (iii)(b) of Revenue Memorandum Order No. 24-2016. If the seller/transferor/assignor is a corporation or is a stranger to the buyer/transferee of the Subject Property, and it is proven that the buyer/transferee/ assignee does not have any financial capacity to purchase the Subject Property, it shall be presumed that the buyer/transferee/assignee have earned income that he/she/it did not declare and taxes due thereon were not paid. In addition to any tax due on the sale/transfer/assignment of the Subject Property, Income Taxes shall be assessed against the buyer/transferee/assignee on the amount of the consideration for which buyer/transferee/assignee cannot show proof that he/she/it has the financial capacity for, on the taxable year when the sale/transfer/assignment of the Subject Property occurred.