The differences are as follows:
- Basis of Imposition. RPT and SEFT are imposed on the mere act of ownership of or legal interest in the real estate and required to be paid on a regular basis while VAT, CGT, CWT and DST are imposed only in the event of transactions affecting real estate such as sale, transfer, mortgage or lease;
- Collection Agency. RPT and SEFT are imposed and collected by the local government units (provinces, cities or municipalities) thru the local treasurers while the real estate transactions taxes are imposed and collected by the National Government thru the Bureau of Internal Revenue;
- Payment Period. RPT and SEFT are required to be paid every year while the real estate transaction taxes are paid only when there are transactions involving real estate, such as sale, transfer or assignment;
- Legal Basis. RPT and SEFT are based on the Local Government Code of 1991 (Republic Act 7160) while the real estate transaction taxes are based on the National Internal Revenue Code.