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    Date: 2021-07-12 11:10:34.688323

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    Date: 2021-07-12 12:01:38.366710

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    Date: 2021-07-12 14:34:21.152001

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Capital Gains Tax Clarification

Requested from DOF by K. Go at 11:10 AM on Jul 12, 2021.
Purpose: To clarify the computation of CGT
Date of Coverage: 07/12/2021 - 07/12/2021
Tracking no: #DOF-755659439016

Go 11:10 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

Reyes 12:01 PM, Jul 12, 2021 

July 12, 2021

Dear Kerwin Davis,

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

We received your request on Jul 12, 2021 and will respond on or before Aug 02, 2021 11:10:34 AM, in accordance with the Executive Order's implementing rules and regulations.

Should you have any questions regarding your request, kindly contact me using the reply function on the eFOI portal at https://realignagencies11072018-dot-efoi-ph.appspot.com/requests/aglzfmVmb2ktcGhyHQsSB0NvbnRlbnQiEERPRi03NTU2NTk0MzkwMTYM, for request with ticket number #DOF-755659439016.

Thank you.

Respectfully,

Rhodora Reyes
FOI Officer

Sarmiento 02:34 PM, Jul 12, 2021 

July 12, 2021

Hi Kerwin!

Thank you for your request dated Jul 12, 2021 11:10:34 AM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.

Please note that we are only able to provide some of the information you have requested based on the info published in the Bureau of Internal Revenue Website: https://www.bir.gov.ph/index.php/tax-information/capital-gains-tax.html

For further information, you may wish to get in touch with the Bureau by email at: contact_us@bir.gov.ph

Thank you and stay safe@

Respectfully,

FOI Receiving Officer

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