Computation Of Capital Gains On Joint Development Agreement With Example
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FAQ
Contrary to popular belief, capital gains are not taxed at a set rate of 50%, nor are they taxed in their entirety at your marginal tax rate.
In computing the capital gains tax, you simply determine the higher value of the property, and simply multiply the same with 6%. It would not matter how much the seller actually earned because the tax is based on the gross amount of the taxable base for capital gains tax in the Philippines.
Capital gain at the time of completion certificate would be calculated by deducting total land cost from the stamp duty value/market value of flat received by land owner.
In case of short-term capital gain, capital gain = final sale price (the cost of acquisition + house improvement cost + transfer cost). In case of long-term capital gain, capital gain = final sale price (transfer cost + indexed acquisition cost + indexed house improvement cost).
In computing the capital gains tax, you simply determine the higher value of the property, and simply multiply the same with 6%. It would not matter how much the seller actually earned because the tax is based on the gross amount of the taxable base for capital gains tax in the Philippines.