Creba wants status quo on incentives for housing

The Chamber of Real Estate and Builders' Associations, Inc. (Creba) has appealed certain provisions of House Bill No. 4339 which repeal certain provisions of the Republic Act 8763 or the Home Guaranty Corporation Act of 2000 regarding tax exemption on interest income on loans covered by what is now Philguarantee.

These tax reliefs are intended to encourage the grant of housing loans to socialized and low-cost housing target beneficiaries on the premise that such exemptions would compensate for the inherent credit risk and relatively low profit for such type of lending.