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Date: Feb. 27, 2020, 11:04 a.m.

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Date: 2020-02-27 16:51:32.000000

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Date: 2020-03-03 13:46:34.000000

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Revenue laws applicable on underpayments of CGT and DET

Published by Bureau of Internal Revenue(BIR) on Feb. 27, 2020.
Requested from BIR by A. Punsalan at 11:04 AM on Feb. 27, 2020.
Purpose: Information purposes
Date of Coverage: 02/27/1988 - 02/27/2020
Tracking no: #BIR-104259126157

A.PUNSALAN Feb. 27, 2020, 11:04 a.m.

Sir/ Mam: I would like to seek for information regarding on the laws of underpayments of CGT and DST. I recently discovered someone who intentionally lowered his selling price in the deed of sale for the purpose of paying low cgt and dst. May i request your good office to enlighten me if i have a legal standing to file a complaint regarding on the matter. Thank you

P.DIVISION Feb. 27, 2020, 4:51 p.m.

Dear Alejandro Punsalan, Thank you for your request dated Feb 27, 2020 11:04:52 AM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for Revenue laws applicable on underpayments of CGT and DET. We will endorsing this to the Assistant Commissioner of the Assessment Service for their consideration and appropriate action. Thank you. Respectfully, Maria Lourdes D. Narvaez FOI Decision Maker

P.DIVISION March 3, 2020, 1:46 p.m.

Dear Alejandro Punsalan, Thank you for your request dated Feb 27, 2020 11:04:52 AM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for Revenue laws applicable on underpayments of CGT and DET. In reply, per email reply of HREA Rosana San Vicente of the Assessment Service dated today the following are the applicable provisions of the National Internal Revenue Code of 1997, as amended, to wit: 1. Section 58 (E) for Capital Gains Tax (CGT) on sale of real properties; 2. Section 2017- in case of deficiency of CGT and Documentary Stamp Tax (DST) becomes delinquent; 3. Section 247 to 249- pertains to penalties that shall be imposed for deficiency CGT/DST; and 4. Section 254- criminal liability if the underpayment of the CGT/DST is intentional. For your information and guidance. Respectfully, Maria Lourdes D. Narvaez FOI Decision Maker

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