{"id":43163,"date":"2017-02-07T17:28:51","date_gmt":"2017-02-07T10:28:51","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/idle-philippine-lands-to-get-some-action-with-new-taxes\/"},"modified":"2017-02-07T18:28:24","modified_gmt":"2017-02-07T11:28:24","slug":"idle-philippine-lands-to-get-some-action-with-new-taxes","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/idle-philippine-lands-to-get-some-action-with-new-taxes\/","title":{"rendered":"Idle Philippine lands to get some action with new taxes"},"content":{"rendered":"<p>&#013;<br \/>\nThe indolence of the Filipino\u2026land<br \/>\nThe Banaue Rice Terraces in the Philippines. Frolova_Elena\/Shutterstock<br \/>\nPhilippine President Rodrigo Duterte wants to see more productive use of the vast tracts of land sitting idly across the archipelago.<br \/>\nIdle lands will be \u201cheavily\u201d taxed during his term, the firebrand politician issued the warning at the launch of a vegetable garden yesterday in the Malaca\u00f1ang Park. \u201cIf (land) hasn\u2019t been developed for 10 to 20 years, I will double its real estate tax or triple unless you are willing to lend it to somebody or to the barangay for the people to use it.\u201d<br \/>\nDuterte blamed the proliferation of idle lands on rampant speculation. Disused land parcels could have been repurposed as agricultural land, improving domestic food security and enabling the Philippines to export more produce to other Asian nations, he said.<br \/>\nMore: Is Trump to blame for this Philippine property chill?<br \/>\n\u201cAfter my visit (to China), they are accepting all, even vegetables. It\u2019s not even enough for one billion Chinese. They cannot cope up with food production. They have to buy.\u201d<br \/>\nOwners manage to keep farmlands idle because of low land tax rates in the Philippines, which go as little as PHP200 (USD4) per hectare a year, according to Rolando Dy, executive director of the UA&amp;P Center for Food and Agribusiness. \u201cThe farmland is idle due to many causes. They are: migration to cities, migration as OFWs, land speculation, lack of investments, and more. Some lands are practically abandoned by absentee owners,\u201d Dy wrote in an op-ed for BusinessWorld.<br \/>\nDuterte apparently shares his sentiment with former President Benigno Aquino III. During his term in 2010, the Department of the Interior and Local Government and the Department of Finance jointly issued Joint Memorandum Circular No. 2010-02 reinforcing a 1991 legislation that imposes ad valorem tax on idle lands.<br \/>\nAt the time, the Philippines has 7.5 million hectares of idle lands that could have been used for agro-forestry and biofuel production, according to local environmental regulators.<br \/>\nRead next: The ultimate guide to SE Asian real estate in 2016&#013;<br \/>\n&#013;<br \/>\nSource : property-report.com&#013;<br \/>\nRead more&#8230;<a href=\"http:\/\/www.property-report.com\/idle-philippine-lands-to-get-some-action-with-taxes\/\" target=\"_blank\">Idle Philippine lands to get some action with new taxes<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#013; The indolence of the Filipino\u2026land The Banaue Rice Terraces in the Philippines. Frolova_Elena\/Shutterstock Philippine President&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-43163","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-beb","jetpack-related-posts":[{"id":21658,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-philippine-president-to-bring-positive-changes-to-real-estate\/","url_meta":{"origin":43163,"position":0},"title":"New Philippine president to bring positive changes to real estate","date":"August 2, 2016","format":false,"excerpt":"\r Rodrigo Duterte\u2019s brand of change is coming? Image: Lean Daval Jr\/Lean Daval Jr\/Reuters The recent election of Rodrigo Duterte as the Philippines\u2019 president will bring positive changes, especially in view of his countryside development plans, infrastructure and agriculture focus, increased government spending and anti-crime priority, according to a recent\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23599,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/real-estate-projects-forge-ahead-in-the-philippines-despite-killings\/","url_meta":{"origin":43163,"position":1},"title":"Real estate projects forge ahead in the Philippines despite killings","date":"August 22, 2016","format":false,"excerpt":"\r Healthy growth numbers for property developers amid foreign investor anxiety over extra-judicial killings Duterte remains a controversial figure Domestic real estate businesses in the Philippines have recorded healthy growth trajectories for the first half of the year. Foreign investors, on the other hand, appear to be treading lightly in\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12548,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-things-ph-presidential-front-runner-duterte-could-do-for-real-estate\/","url_meta":{"origin":43163,"position":2},"title":"5 things PH presidential front-runner Duterte could do for real estate","date":"May 10, 2016","format":false,"excerpt":"\r Can the tough-talking mayor improve the property sector? Image credit: Mohd Rasfan\/AFP\/Getty Images While only unofficial election results have been released as of press time, it seems that Davao Mayor Rodrigo Duterte is set to assume the role of the 16th President of the Republic of the Philippines in\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33691,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-does-the-philippines-think-of-donald-trump\/","url_meta":{"origin":43163,"position":3},"title":"What does the Philippines think of Donald Trump?","date":"November 10, 2016","format":false,"excerpt":"\r With so many comparisons to Duterte, how do Filipinos feel about the new US president? Image: a katz \/ Shutterstock.com With Donald Trump\u2019s victory in the bag, we take a look at Philippine sentiment regarding the new US president \u2013 a man who has so often been compared to\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":36238,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/could-a-philippine-island-be-the-next-singapore-or-hong-kong\/","url_meta":{"origin":43163,"position":4},"title":"Could a Philippine island be the next Singapore or Hong Kong?","date":"November 28, 2016","format":false,"excerpt":"\r Qatar real estate firm has big plans for the Philippines Aerial view of tropical islands near Palawan, Philippines. Ekaterina Pokrovsky\/Shutterstock With white sandy coasts that seem to stretch on forever, and an unbeatable trove of natural resources, the Philippines has been a puzzle to economists: Why aren\u2019t any of\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27733,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-dutertes-federalism-could-diversify-the-philippines-property-sector\/","url_meta":{"origin":43163,"position":5},"title":"How Duterte\u2019s federalism could diversify the Philippines\u2019 property sector","date":"September 29, 2016","format":false,"excerpt":"\r The oft-politically incorrect premier is more nuanced than his brash public persona might suggest Incendiary bordering on foul-mouthed; Rodrigo Duterte has been labelled the \u201cDonald Trump of the East.\u201d The comparison between the recently inaugurated president of the Philippines and the presumptive Republican nominee for the US presidency may\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/43163"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=43163"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/43163\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=43163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=43163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=43163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}