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What is the capital gains tax on the sale

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Reference no: EM133124534

Question - Kaye sold his residential house and lot located in Manila on January 5, 2018 for 8,000,000. The property was purchased in 2005 for 3,000,000. The current market value of the property at the time of sale was:

BIR Commissioner's zonal valuation 9,000,000

City Assessor's schedule of values 6,000,000

Required - What is the capital gains tax on the sale?

Reference no: EM133124534

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