Capital Gains Tax Philippines 2024. In the philippines, the payment of capital gains tax is a crucial aspect of property transactions, particularly when real estate is sold. For real property not used in trade or business, the capital gains tax rate is fixed at 6% of the gross selling price or fair market value, whichever is higher.
The taxpayer may ask the commissioner of internal revenue (cir) to suspend the mcit under certain. Remember that the capital gains tax is 6% of the selling price.
