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P R E S ER VAT I O N news f r o m the p r e s e r v a t i o n A D V O C AT E l e a g u e of n e w y o r k state I S S U E 1 1 8 New Life for Old Buildings: Legislature Passes LeagueChampioned Preservation
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PREs stands for Property Report and Exit Survey.
All individuals or entities who are disposing of Philippine property owned by non-residents or former Filipino citizens are required to file PREs.
PREs can be filled out online through the Bureau of Internal Revenue (BIR) website or manually by submitting the required forms to the BIR office.
The purpose of PREs is to monitor the sale or disposition of Philippine properties by non-residents or former Filipino citizens.
The information reported on PREs includes details about the property being disposed of, the seller and buyer's information, and the transaction details.
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