Author Topic: Zonal Value & Capital Gains Tax  (Read 2028 times)

Offline Vida Panopio

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Zonal Value & Capital Gains Tax
« on: September 22, 2014, 05:58:57 PM »
If say I'm selling a property for 2.75 M and the buyer agrees with it, but the on paper the buyer wants to put it at a lower price because he will shoulder the taxes. It was said that the zonal value is at 1.7 M so they want that rice on the paper so the taxes will be lower. Is this the right thing to do? Will there be any legal consequences against me as the seller? Please advise.

Offline PinoyBroker

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Re: Zonal Value & Capital Gains Tax
« Reply #1 on: September 22, 2014, 09:48:08 PM »
The right thing is always to declare what was agreed upon in amount and principle.  8)