What the tax is charged on
Two values decide the tax, and the larger one wins. Here is what each part means.
Selling price
What you agreed to sell the property for, as written on the deed of sale.
your sale amountFair market value
The higher of the BIR zonal value and the assessor's market value. The tax uses this if it is larger than your price.
the BIR's floorThe two taxes
Capital gains tax at 6 percent, and documentary stamp tax at 1.5 percent, both on the higher of the two values above.
6% + 1.5%Questions people ask
answered in plain wordsIt is a flat 6 percent of the tax base, and the tax base is the higher of your selling price and the property's fair market value. Fair market value here means the higher of the BIR zonal value and the assessor's market value on the tax declaration.
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