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Free Legal Advice Philippines » FREE LEGAL ADVICE » PROPERTY » Tax Deliquent Sale/ Municipal Treasurer Public Auction on Tax Deliquent Sale/ Capital Gain Tax

Tax Deliquent Sale/ Municipal Treasurer Public Auction on Tax Deliquent Sale/ Capital Gain Tax

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kolokoy7949

kolokoy7949
Prision Correccional

A property owner who had been deliquent in paying its Real Property Tax will be subjected by the Government into an Auction Sale or Tax Sale. The highest Bidder during the Auction will be the Winning Bidder. My Question is, in Tax Deliquent Sale, when a Winning Bidder Registers the Property, will it be Subjected to a Capital Gain Tax? If no, why? If yes why?

kolokoy7949

kolokoy7949
Prision Correccional

ill answer my question. Yes, it is Subjected to CGT. There is a New Memo from BIR with Regard to this. Sad to say some people from the Local Treasurer still doesnt know about this.

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Free Legal Advice Philippines » FREE LEGAL ADVICE » PROPERTY » Tax Deliquent Sale/ Municipal Treasurer Public Auction on Tax Deliquent Sale/ Capital Gain Tax

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