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
