Tax Deadlines

Here's how anyone can easily miss the tax deadlines prescribed by government agencies.

If I told you, the Deed of Absolute Sale was notarized on December 15, 2023, when is the deadline for the payment of Capital Gains Tax?

If your answer is January 15, 2024, then you're wrong.

It's January 14, 2024.

See, we all know the deadline for capital gains tax is 30 days from the date of notarization. But when calculating 30 calendar days, we often forget that some months have a 31st day. The extra day makes the deadline a day earlier.

The same idea goes for the payment of the LRA's Registration Fee and Transfer Taxes which are due on the 60th day from the notarization of the DOAS.

Careful, careful.