February 4, 2009
BIR RULING [SH-(005) 071-09]
RA 7279; S-32-077-2000
City Government of Taguig
Taguig City Hall
Gen. Antonio Luna St.
Tuktukan, Taguig City
Attention: Mr. Wilfredo C. Villar
City Administrator
Gentlemen :
This refers to your letter dated August 21, 2008 requesting for a ruling that the sale by Mariquit P. Cabrera of her property to the Municipal Government of Taguig (now City Government of Taguig), intended for the latter's socialized housing program is exempted from payment of capital gains tax.
Documents submitted show that Mariquit P. Cabrera, married to Benjamin L. Cabrera is the registered owner of a parcel of land covered by Original Certificate of Title (OCT) No. 1051 issued by the Register of Deeds for Pasig, Metro Manila. The aforestated lot is located at Pulong Kendi, Brgy. Sta. Ana, Taguig City containing an area of 2,776 sq.m. more or less. The Municipal Government of Taguig, on the other hand, is a public entity created and existing under the laws of the Philippines. While the Samahang Nagkakaisang Damdamin at Organisadong Kapit-Bahayan (SANDOK) Homeowners Association, Inc., is a duly registered community association. The...
