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Item details
Category TRANSACTION TAX
What Philippine taxes will I be required to pay if I sell my house and lot?
Created Jun-5-2015
Owner admin
QUESTION What Philippine taxes will I be required to pay if I sell my house and lot?
ANSWER

Under the National Internal Revenue Code of the Philippines (NIRC), transactions involving sale, exchange or other disposition of real property located in the Philippines classified as capital assets in which capital gains is presumed to have been realized are subject to Capital Gains Tax. In addition, you will be required to pay documentary stamp tax.