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Capital Gains Tax

Description
Capital Gains Tax is a tax imposed on the gains presumed to have been realized by the seller from the
sale, exchange, or other disposition of capital assets located in the Philippines, including pacto de retro
sales and other forms of conditional sale.
Final Capital Gains Tax for Onerous Transfer of Real Property Classified as Capital Assets
(Taxable and Exempt)
Tax Form
BIR Form 1706 Final Capital Gains Tax Return (For Onerous Transfer of Real Property Classified as
Capital Assets -Taxable and Exempt)
Description
This return is filed by all persons (natural or juridical) whether resident or non-resident, including Estates
and Trusts, who sells, exchanges, or disposes of a real property located in the Philippines classified as
capital asset as defined under Sec. 39 (A)(1) of RA 8424 for the purpose of securing a Tax Clearance
Certificate to effect transfer of ownership (title) of the property from the seller to the buyer.
However, filing of the return is no longer required when the real property transaction involves the
following:
- it is not classified as a capital asset
- not located in the Philippines
- disposition is gratuitous
- disposition is pursuant to the Comprehensive Agrarian Reform
To be filed with the RDO having jurisdiction over the place where the property being transferred is located.
Filing Date
- Filed within thirty (30) days following each sale, exchange or disposition of real property
- In case of installment sale, the return shall be filed within thirty (30) days following the receipt of the 1st
downpayment and within thirty (30) days following each subsequent installment payment
- One return is filed for every transfer document regardless of the number of each property sold,
exchanged or disposed of.
Documentary Requirements
1) One original copy and one photocopy of the Notarized Deed of Sale or Exchange
2) Photocopy of the Original Certificate of Title; Transfer Certificate of Title; or Condominium Certificate of
Title in case of a condo unit
3) Certified True Copy of the tax declaration on the lot and/or improvement during nearest time of sale
4) Certificate of No Improvement issued by the Assessors office where the property has no declared
improvement, if applicable or Sworn Declaration/Affidavit of No Improvement by at least one (1) of the
transferees
5) Copy of BIR Ruling for tax exemption confirmed by BIR, if applicable
6) Duly approved Tax Debit Memo, if applicable
7) Sworn Declaration of Intent as prescribed under Revenue Regulations 13-99, if the transaction is taxexempt
8) Documents supporting the exemption
Additional requirements may be requested for presentation during audit of the tax case depending upon
existing audit procedures.
Procedures
File the Capital Gains Tax return in triplicate (two copies for the BIR and one copy for the taxpayer) with the
Authorized Agent Bank (AAB) in the Revenue District where the property is located. In places where there
are no AAB, the return will be filed directly with the Revenue Collection Officer or Authorized City or
Municipal Treasurer.
One-Time Transaction (ONETT) taxpayers shall mandatorily use the eBIRForms in filing all of their tax
returns. They may opt to submit their tax returns manually using the eBIRForms Offline Package in the
RDO where the property is located or electronically through the use of the Online eBIRForms System. (Sec.
3(2) RR No. 6-2014)
Tax Rates
For real property - 6%.
Deadline
Within 30 days after each sale, exchange, transfer or other disposition of real property.
Capital Gains Tax for Onerous Transfer of Shares of Stocks Not Traded Through the Local Stock
Exchange
Tax Form

BIR Form 1707 - Capital Gains Tax Return (For Onerous Transfer of Shares of Stocks Not Traded Through
the Local Stock Exchange)
Description
This return is filed by a natural or juridical person, resident or non-resident, who is not exempt under
existing laws for the sale, barter, exchange or other onerous disposition intended to transfer ownership of
shares of stocks in domestic corporation classified as capital assets, not traded through the local stock
exchange.
Filing Date
- Filed within thirty (30) days after each cash sale, barter, exchange or other disposition of shares of stock
not traded through the local stock exchange.
- In case of installment sale, the return shall be filed within thirty (30) days following the receipt of the first
down payment and within (30) days following each subsequent installment payment.
Documentary Requirements
1) One original copy and one photocopy of the Notarized Deed of Sale/ Exchange of shares of stock
2) Photocopy of the Deed of Acquisition or proof of cost/ fair market value of the stocks at the time of
acquisition
3) Photocopy of certificate of shares of stock
4) Photocopy of evidences of expenses related to sale
5) Photocopy of Audited Financial Statements duly certified by an independent certified public accountant
with computation of fair market value per share at the time of sale.
6) Duly approved Tax Debit Memo, if applicable
Additional requirements may be requested for presentation during audit of the tax case depending upon
existing audit procedures.
Procedures
File the Capital Gains Tax return in triplicate (two copies for the BIR and one copy for the taxpayer) with the
Authorized Agent Bank (AAB) in the Revenue District where the seller or transferor of stocks is registered.
In places where there are no AAB, the return will be filed directly with the Revenue Collection Officer or
Authorized City or Municipal Treasurer.
One-Time Transaction (ONETT) taxpayers shall mandatorily use the eBIRForms in filing all of their tax
returns. They may opt to submit their tax returns manually using the eBIRForms Offline Package in the
RDO where the seller or transferor of stocks is registered or electronically through the use of the Online
eBIRForms System. (Sec. 3(2) RR No. 6-2014)
Tax Rates
For Shares of Stocks Not Traded in the Stock Exchange
- Not over P100,000 - 5%
- Any amount in excess of P100,000 - 10%
Deadline
Within 30 days after each sale or disposition of shares of stocks or real property. In case of installment sale,
the return shall be filed within 30 days following the receipt of the first down payment and within 30 days
following the subsequent installment payments. Only one return shall be filed for multiple transactions
within the day.
Annual Capital Gains Tax for Onerous Transfer of Shares of Stocks Not Traded Through the
Local Stock Exchange
Tax Form
BIR Form 1707A - Annual Capital Gains Tax Return (For Onerous Transfer of Shares of Stocks Not Traded
Through the Local Stock Exchange)
Description
This return is filed by every natural or juridical person, resident or non-resident, who is not exempt under
existing laws for sale, barter, exchange or other disposition of shares of stock in a domestic corporation,
classified as capital assets, not traded through the local stock exchange.
Filing Date
- For individual taxpayers, this final consolidated return is filed on or before April 15 of each year covering
all stock transactions of the preceding taxable year.
- For corporate taxpayers, this form is filed on or before the fifteenth (15th) day of the fourth (4th) month
following the close of the taxable year covering all transactions of the preceding taxable year.
Procedures
File the Capital Gains Tax return in triplicate (two copies for the BIR and one copy for the taxpayer) with the
Authorized Agent Bank (AAB) in the Revenue District where the seller or transferor of stocks is registered.

In places where there are no AAB, the return will be filed directly with the Revenue Collection Officer or
Authorized City or Municipal Treasurer.
Tax Rates
For Shares of Stocks Not Traded in the Stock Exchange
- Not over P100,000 - 5%
- Any amount in excess of P100,000 - 10%
Deadline
Individual Taxpayers On or before April 15 of each year covering all stock transactions of the preceding
taxable year
Corporate Taxpayers On or before the fifteenth (15) day of the fourth (4) month following the close of the
taxable year covering all transactions of the preceding taxable year
Note: For onerous transfer of real property other than capital asset (including taxable and exempt), a
creditable withholding tax based on the gross selling price/total amount of consideration or the fair market
value determined in accordance with Section 6(E) of the Code, whichever is higher, paid to the
seller/owner for the sale, transfer or exchange of real property, other than capital asset, shall be imposed
upon the withholding agent/buyer. (sec. 3 (j), RR NO. 6-2001)

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