TRAIN - Capital Gains Tax

Tax base - sale of real property located in the Philippines

Gross selling price or Fair value (whichever is higher)

Sale of real property located abroad

Not subject to CGT

Tax base - No full utilization of the proceeds from sale of principal residence

(Unutilized portion/Gross selling price) x CGT Base

Capital gains tax rate - sale of shares stock of a Domestic corporation not listed and traded through a local stock exchange

15%

Filing of returns for CGT on sale of shares of stock

30 days after each transaction - Form 1707

Filing of returns for CGT on sale of real property

30 days following each sale - Form 1706

Capital gains tax rate - sale of real property located in the Philippines

6%

Sale of shares stock of a Domestic corporation not listed and traded through a local stock exchange - Appraised Value is higher of the following

FV @ Commissioner FV @ Provincial and City Assessors FV @ Independent Appraiser

Sale of principal residence with an intention of using the entire proceeds in acquiring or constructing a new principal residence within 18 calendar months from the date of sales

Not subject to CGT

Shares listed or traded through stock exchange

Not subject to CGT

Tax base - sale of shares stock of a Domestic corporation not listed and traded through a local stock exchange

net capital gain = selling price/fair market value - cost to se