If you have recently purchased real property, such as a parcel of land, a condominium unit or a house, the sale is usually subject to capital gains tax (CGT) payable to the Bureau of Internal Revenue. Payment of the capital gains tax on sale of real property is required before the real property you just purchased may be transferred and registered in your name.
The Bureau of the Internal Revenue (BIR) has the following documentary requirements for you to process the capital gains tax return for payment of the CGT:
Mandatory Requirements (Taxable / Exempt):
- TIN of Seller and Buyer – This refers to the Tax Identification Number of both seller and buyer.
- Notarized Deed of Absolute Sale / Document of Transfer – but only the photocopied document shall be retained by the BIR
- Certified true copy of the latest Tax Declaration issued by the Local Assessor’s Office for land and improvement applicable to the taxable transaction
- Owner’s Copy for presentation purposes only together with the photocopy thereof for authentication or Certified True Copy of Transfer Certificate of Title (TCT), Condominium Certificate of Title (CCT), Original Certificate of Title (OCT)
- Sworn Declaration of No Improvement by at least one (1) of the transferees or Certificate of No Improvement issued by the Assessor’s Office, if applicable
- Official Receipt / Deposit Slip for this purpose and duly validated return as proof of payment
Other Requirements if applicable:
- Special Power of Attorney, if the person signing on the document is not the owner as appearing in the Title, together with valid IDs of the attorney-in-fact and the principal
- Certification of the Philippine Consulate, if document is executed abroad
- Location plan / vicinity map if zonal value cannot readily be determined from the documents submitted
- Such other requirements as may be required by law / rulings / regulations / other issuances
ADDITIONAL REQUIREMENTS for Ante-dated Sales:
- Certified true copy of the Deed of Sale / Assignment / Exchange issued by the Clerk of Court of the City or Municipality where the Notary Public is registered or from the Regional Trial Court of Office of the Executive Judge of the City or Municipality where the Notary Public is registered or from the National Archives Office
- Such other requirements as may be required by law / rulings / regulations / other issuances
SOURCE: Checklist of Documentary Requirements from BIR