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BIR Ruling (DA-029-08) January 23, 2008
BIR Ruling (DA-029-08) January 23, 2008
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Moreover, the transfer of the title of the subject property to Jaime Avila is
not also subject to capital gains tax, as such transfer is equivalent to a conveyance
but without monetary consideration, made in accordance with the Court's Decision
granting parties agreement for the distribution of communal property (BIR Ruling
No. DA-092-01 dated May 6, 2001). Neither is the said transfer subject to
documentary stamp tax since the monetary consideration in the conveyance of said
condominium unit from which the tax shall be based is wanting.
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Accordingly, this BIR Ruling together with the MOA covering the
liquidation of your client's communal property with his former wife shall be
presented to the BIR Revenue District Officer concerned for the issuance of the
Certificate Authorizing Registration (CAR) allowing the registration of the title of
the property in the proper Register of Deeds.
This ruling is being issued on the basis of the foregoing facts as
represented. However, if upon investigation, it will be disclosed that facts are
different, then this ruling shall be considered null and void.
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