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    Date: 2021-07-12 11:11:05.665860

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    Date: 2021-07-13 17:28:41.167700

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    Date: 2021-07-17 07:27:00.814346

Capita

Requested from BIR by K. Go at 11:11 AM on Jul 12, 2021.
Purpose: To clarify CGT
Date of Coverage: 07/12/2021 - 07/12/2021
Tracking no: #BIR-035222786298

Go 11:11 AM, Jul 12, 2021 

Hello,

As per BIR website, "Capital Gains Tax is 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."

May I know why the whole amount is being taxed with CGT and not just the gains?

For example if I buy a property 1M, and sold it 1.5M. My gains should just be 500k and this should only be subject to CGT. If the second buyer sold it for 2M. It should only be 500K subject for CGT as per definition.

Thanks

Du 05:28 PM, Jul 13, 2021 

July 13, 2021

Dear Mr. Davis,

Greetings!

Thank you for your request dated Jul 12, 2021 under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.

Your request
You asked for Capita.

Response to your request
We were able to determine that your request cannot be counted as a valid FOI request as this is part of the frontline service of the BIR, hence your request is denied.

In this regard, we would like to advise you to visit the BIR Revenue District Office (RDO) where the property is located, and bring the necessary documents for them to be able to properly compute the CGT on the property being sold.

For your information and guidance.

Respectfully,

Ana Marie Du
FOI Officer


Hello,

I am not requesting for computation of CGT.

I am asking for the correctness of your definition of CGT. I am raising an error in computation of CGT by BIR.

Because your definition and the computation of BIR is not in harmony.

There is a gap that needs to be addressed. 

Kind regards,
Kerwin Go

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