i have acquired 2 lots thru pag-ibig covered with license to sell appraised value of 200k each . when we are about to transfer the tittle to our name, the BIR told us that it is not covered with the exemptions in the payment of the CAPITAL GAINS TAX since the property is worth 400k for the two lots as appeared in the deed of sale. i am confused at the moment since the 'LICENSE TO SELL" supposedly exempts buyers payments of the capital gains tax.
by the way, the 2 lots we purchased was indicated in the license to sell.
with this, i am asking thru this forum to shed light on this matter. is the revenue district officer right or he is erroneous in his interpretation of the law? can i contest BIR's decision?
your comments will highly be appreciated...thank you.
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