How to estimate Capital gains Tax, Documentary Stamp Tax, Transfer fees and others fees in the transfer of real property
How to estimate Capital gains Tax, Documentary Stamp Tax, Transfer fees and others fees in the transfer of [REAL PROPERTY] (12%) TWELVE PERCENT This is the magic number that you should remember in estimating the amount of money you will spend in transferring the real property or having the title under your name. If you're a first time buyer of a real property in the Philippines, you may be wondering about the other expenses that you may incur in the transfer. Sometimes, it is scary to think that we might go over budget or we may no longer be able to afford the other expenses, but if you know how to estimate the costs then we can prepare for it. Here's how to compute--- First determine the following values: 1) Contract Price- deed of sale 2) Zonal Value- download this from BIR's website. -- Whichever is higher between these two values will be our tax base. When you already know your tax base, you will now compute your taxes and fees. For example, If you bought a prop