Land Donation questions

[Ry_Tower]

But this applies if you buy from developers only di ba. But if you get it from an owner then CGT lang and no VAT di ba?

As boybi said, even if you buy from the owner but the BIR assessed that it has commercial value, then they have the right to levy for VAT instead of CGT. It's the nature of the real property and not the ownership which matters.

BIR will always go for the higher tax.

[boybi]

As boybi said, even if you buy from the owner but the BIR assessed that it has commercial value, then they have the right to levy for VAT instead of CGT. It's the nature of the real property and not the ownership which matters.

BIR will always go for the higher tax.

CGT + VAT pinabayad sa akin.

[Vodka]

CGT + VAT pinabayad sa akin.

wow cgt lang dati, kahit commercial properties

yang additional vat, is that due to train law?

[Walter]

How is the VAT calculated? ...

[Ry_Tower]

CGT + VAT pinabayad sa akin.

Wow, that I didn't expect. Guess BIR really did consider it as a business transaction.

[papi smith]

So dapat pala, next buy ng property ipangalan na sa heir as yan naman eventually mangyayari . Hindi ka na nga tumubo pero bayad ka pa rin ng capital gains tax, dodoblehan ka pa ng Value Added tax.

[Walter]

Just have heir execute SPA ...

[boybi]

wow cgt lang dati, kahit commercial properties

yang additional vat, is that due to train law?

No idea. After ma-process na mga docs and nabayaran na CGT tsaka humirit BIR ng VAT. No choice na ako.

How is the VAT calculated? ...

Hindi ko na inalam. Syempre alam nyo naman saan hahantong ang 'tawaran' sa VAT.

So dapat pala, next buy ng property ipangalan na sa heir as yan naman eventually mangyayari . Hindi ka na nga tumubo pero bayad ka pa rin ng capital gains tax, dodoblehan ka pa ng Value Added tax.

Problema if minor pa ang heir.

[Walter]

Problema if minor pa ang heir.

Name of parent "In Trust For" name of child on title ...