Taxes & Fees
CGT (Capital Gains Tax)
6% tax on the sale of real property
Definition
Capital Gains Tax (CGT) is a 6% tax imposed on the sale, exchange, or disposition of real property classified as capital assets. It's computed based on the gross selling price or fair market value (zonal value), whichever is higher. The seller is responsible for paying CGT within 30 days of the sale.
Tips & Things to Know
- 1CGT must be paid before you can transfer the title
- 2Get a CAR (Certificate Authorizing Registration) from BIR after paying