Department of Finance(DOF)

Browse over 699 from this government agency

Go Back

REQUEST
SUBMITTED

You have submitted an FOI request

Date: July 12, 2021, 11:10 a.m.

PROCESSING
REQUEST

Your request is already in review

Date: 2021-07-12 12:01:38.000000

REQUEST
SUCCESSFUL

Your request was successful

Date: 2021-07-12 14:34:21.000000

4

RATE YOUR
REQUEST

How was your request?

Capital Gains Tax Clarification

Published by Department of Finance(DOF) on July 12, 2021.
Requested from DOF by A. Pedroso at 11:10 AM on July 12, 2021.
Purpose: To clarify the computation of CGT
Date of Coverage: 07/12/2021 - 07/12/2021
Tracking no: #DOF-755659439016

K.GO July 12, 2021, 11:10 a.m.

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

R.REYES July 12, 2021, 12:01 p.m.

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

A.SARMIENTO July 12, 2021, 2:34 p.m.

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: [email protected] Thank you and stay safe@ Respectfully, FOI Receiving Officer

Is this request offensive?

Requests for personal information and vexatious requests are not considered valid requests for Official Information.

If you believe this request is not suitable, you can report it for attention by the site administrators.