Are Properties Sold by Real Estate Businesses Always Classified as Ordinary Assets?

Selling Property? The BIR Has Drawn a Clearer Line in the Sand. Under Revenue Memorandum Circular (RMC) No. 31-2025, the Bureau of Internal Revenue (BIR) is tightening its stance on how real properties sold by those habitually engaged in the real estate business are classified and taxed. The distinction between capital and ordinary assets is […]