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    Distraint V Levt

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    Romela Eleria Gases
    1. Distraint involves the seizure of a taxpayer's personal property to satisfy unpaid taxes, while levy involves the seizure and forfeiture of a taxpayer's real property. 2. Certain personal properties are exempt from distraint or levy, including tools of trade, one beast of burden, necessary clothing, household furniture up to 10,000 pesos, provisions for 4 months, professional libraries, one small fishing boat and net up to 10,000 pesos. 3. Key differences between distraint and levy include distraint provides no right of redemption while levy does, and levy requires published notice of sale while distraint does not require as much notification.

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    Distraint V Levt

    Uploaded by

    Romela Eleria Gases
    309 views1 page
    1. Distraint involves the seizure of a taxpayer's personal property to satisfy unpaid taxes, while levy involves the seizure and forfeiture of a taxpayer's real property. 2. Certain personal properties are exempt from distraint or levy, including tools of trade, one beast of burden, necessary clothing, household furniture up to 10,000 pesos, provisions for 4 months, professional libraries, one small fishing boat and net up to 10,000 pesos. 3. Key differences between distraint and levy include distraint provides no right of redemption while levy does, and levy requires published notice of sale while distraint does not require as much notification.

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    1. Distraint involves the seizure of a taxpayer's personal property to satisfy unpaid taxes, while levy involves the seizure and forfeiture of a taxpayer's real property. 2. Certain personal properties are exempt from distraint or levy, including tools of trade, one beast of burden, necessary clothing, household furniture up to 10,000 pesos, provisions for 4 months, professional libraries, one small fishing boat and net up to 10,000 pesos. 3. Key differences between distraint and levy include distraint provides no right of redemption while levy does, and levy requires published notice of sale while distraint does not require as much notification.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    309 views1 page

    Distraint V Levt

    Uploaded by

    Romela Eleria Gases
    1. Distraint involves the seizure of a taxpayer's personal property to satisfy unpaid taxes, while levy involves the seizure and forfeiture of a taxpayer's real property. 2. Certain personal properties are exempt from distraint or levy, including tools of trade, one beast of burden, necessary clothing, household furniture up to 10,000 pesos, provisions for 4 months, professional libraries, one small fishing boat and net up to 10,000 pesos. 3. Key differences between distraint and levy include distraint provides no right of redemption while levy does, and levy requires published notice of sale while distraint does not require as much notification.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    LGU 

    1. Distraint vs Levy
    Note: Levy or distraint are not mutually exclusive. Levy cam be availed of
    Distraint Levy before, simultaneously or after distraint
    As to Subject Matter Personal property Real property owned
    owned by and in and in the
    possession of the possession of the
    taxpayer taxpayer Exemption of Personal Property from Distraint or Levy
    Acquisition by the Personal property Real property Q: What are the properties exempt from distraint or levy?
    Governement distrained are subject to levy is
    purchased by the forfeited to the A: The following property shall be exempt from distraint and the levy,
    Government and Government then attachment or execution thereof for delinquency in the payment of any
    resold to meet sold to meet the local tax, fee or charge, including the related surcharge and interest: ToBe-
    deficiency deficiency ChoP-LBM
    Advertisement of No newspaper The sale of realty 1. Tools and implements necessarily used by the delinquent taxpayer
    Sale publication required subject to levy is in his trade or employment;
    required to be 2. One (1) horse, cow, carabao, or other Beast of burden, such as the
    published once a delinquent taxpayer may select, and necessarilly used by him in his
    week for 3 ordinary occupation;
    consecutive weeks 3. His necessary Clothing, and that of all his family;
    in a newspaper of 4. Household furniture and utensils necessary for housekeeping and
    general circulation in used for that purpose by the delinquent taxpayer, such as he may
    the municipality or select, of a value not exceeding Ten thousand pesos (P10,000.00)
    city where the 5. Provisions, including crops, actually provided for individual or family
    property is located. use sufficient for four (4) months;
    - NO right of With right of 6. The professional Libraries of doctors, engineers, lawyers and judges;
    redemption redemption 7. One fishing Boat and net, not exceeding the total value of Ten
    - Report of the Report on levy to thousand pesos (P10,000.00), by the lawful use of which a
    proceedings sanggunian fisherman earns his livelihood; and
    (distraint)to local 8. Any Material or article forming part of a house or improvement of
    chief executive any real property. (Sec. 185, LGC)
    - No notice is required Written notice of the
    to be given to the levy shall be mailed
    assessor and register to the assessor and
    of deeds register of deeds

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