Thinking of buying a Condo for your Child ?

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Condo PHPMANILA, Philippines – Buying a property in your child's name is a great idea for a gift, but it may cause a lot of complications involving donor's tax. The Bureau of Internal Revenue defines donor’s tax as a tax on a donation or gift, and is imposed on the free transfer of property between two or more persons who are living at the time of the transfer. If a parent pays for a condominium unit under an underage child’s name, then it will fall under a donation. “Normally, what the government looks for is,

2 People killed in Albay Bus Accident

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bus accidentLEGAZPI CITY, PHILIPPINES Two children died and 35 others were injured when an out-of-control bus rolled down a slope along the highway in Kimantong, Daraga in Albay on Sunday. The fatalities were identified as Baby Jane Abrigo, 12, and a still unidentified boy around 11 years old, according to Superintendent Joel Adan, chief of Daraga Municipal Police Station.

Clark Airport upgrading

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clark-airportThe terminal will boost the Clark airport's passenger capacity to up to 16 million per year from the current 4 million. The Clark International Airport Corporation (CIAC) is set to present to the National Economic and Development Authority-Investment Coordination Committee (NEDA-ICC) its proposed P7.2-billion low-cost carrier terminal in the international airport in Pampanga. CIAC will present the master plan and feasibility study for the terminal prepared by Aeroports de Paris of France in August, Department of Transportation and Communications (DOTC) Secretary Joseph Emilio Abaya said Monday, July 21.