June 25, 2020
BIR RULING NO. OT-362-20
Section 24 (D) (1) of the National Internal Revenue Code of 1997,
as amended; BIR Ruling No. 1326-2018
AAA & BBB
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Gentlemen/Madam :
This refers to your letter, with attachments, as indorsed by the Regional Director, Revenue Region No. 19-Davao City, dated April 25, 2019, requesting for Certificate of Tax Exemption from the payment of capital gains tax (CGT) and documentary stamp tax (DST) relative to the Deed of Exchange, executed by and between AAA and BBB, for the purpose of correcting mistakes in their respective titles.
It is represented that AAA had purchased from YCF Neighborhood Association of Agdao, Inc. the property known as Lot 6, Block 11, with an area of 82 sq. m., more or less, and covered by TCT No. 146-2016003621, as evidenced by Deed of Absolute Sale dated September 07, 2016. However, it was discovered that the actual portion she has occupied and developed prior to the execution of the Deed of Absolute Sale is the portion known as Lot 7, Block 11, Psd-112402-125582, with an area of 66 sq....
