Deed Tax
I. Introduction
The ownership of real estate property acquired through purchase, the creation of a Dien, on a bestowal or a donation, exchange, partition or on possession is subject to the deed tax levy. The deed tax is assessed according to respective deeds at different rates. To show taxpayers how to save on deed tax, a brief introduction concerning reduction and exemption is provided below.
III. Precautions to avoid penalties: Classification Tax rate Remarks 1. Deed tax on a purchase and sale. 6% 2. Deed tax on a bestowal or a donation. 6% 3. Deed tax on a creation of a Dien. 4% 4. Deed tax on an exchange. 2% 5. Deed tax on a partition. 2% In the event that there is payment for the discrepancy in a deed on an exchange or deed on a partition is subject to the 6% of the deed tax. 6. Deed tax on a possession. 6%