What the capital gains tax of ms neneng v

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Question - On August 15, 2015, Ms. On Jo sold a 500 square meter residential house to Min ho for P3,000,000. The house was acquired in 2002 for P2,000,000. On the date of sale, the fair market value of the house as shown in the real property declaration was P2,500,000 and the assessor's value amounted to P2.200,000. The zonal value was P7,000 per square meter.

What the capital gains tax of Ms. Neneng V if the proceeds of sale was utilized in acquiring a new residence?

Reference no: EM133111932

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