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Do you provide an official receipt for my rental payments?

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We receive your rental payments only in behalf of our principal, the unit owner. This means that the rent you pay us, are not our company’s revenue. So in general, we issue only an acknowledgment receipt to confirm that we have received payment from you, in behalf of our principal.

Most of our principals own only one or two rental units, so they don’t register them as a business yet. Which means they don’t have an official receipt they can issue to you either.

Official receipts are registered with the BIR and they are only issued by a business to acknowledge receiving an amount which is considered an income/revenue for them. If we issue you an official receipt for your rental payment, we will have to account for that payment as part of our company’s revenues. That means it will be subject to the taxes that are applicable to us.

If you have a special need for an official receipt, we can still issue you one. To stay in compliance with our tax laws, we just have to treat your payment as part of our own revenue and charge an additional 12% for the VAT since we are a VAT-registered entity.