What is Capital Gains Tax?

Posted in QA on October 7th, 2010 by admin | No comments
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Capital Gains Tax, according to the BIR in the Philippines:

“A tax imposed on the gains presumed to have been realized by the seller from the sale, exchange, or other disposition of capital assets located in the Philippines, including pacto de retro sales and other forms of conditional sale.

For Real Properties, it is 6% of the total selling price. Every person, whether natural or juridical, resident or non-resident, including estates and trusts, who sells, transfers, exchanges or disposes real properties located in the Philippines classified as capital assets, including pacto de retro sales and other forms of conditional sales or shares of stocks in domestic corporations not traded through the local stock exchange classified as capital assets.”

Source: BIR

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