PH BIR Form 1706 1999 free printable template

M. Others specify Tax Declaration No. TCT/OCT/CCT No. Others Is the property being sold your principal residence For Individual sellers only Do you intend to construct or acquire a new principal residence within 18 months from the date of disposition/sale Does the selling price cover more than one property Description of Transaction Mark one box only Cash Sale Installment Sale Exempt Foreclosure Sale 20 Are you availing of tax relief under an International Tax Treaty or Special Law If yes...

How to fill out PH BIR Form 1706

How to fill out PH BIR Form 1706

1. Obtain a copy of BIR Form 1706 from the Bureau of Internal Revenue (BIR) website or local BIR office.
2. Fill out the taxpayer's information including name, address, and Tax Identification Number (TIN).
3. Indicate the type of income that is being declared.
4. Provide the details of the property being sold, including its description, location, and selling price.
5. Calculate the capital gains tax based on the selling price or fair market value, whichever is higher.
6. Complete the payment details, indicating the payment method and due date for the tax.
7. Review the filled form for accuracy and completeness.
8. Submit the signed form to the BIR along with the necessary attachments, such as proof of payment and supporting documents.

Who needs PH BIR Form 1706?

1. PH BIR Form 1706 is needed by individuals or entities selling real property in the Philippines.
2. It is required for taxpayers who are subject to capital gains tax from the sale of real estate assets.
3. Real estate sellers, including those involved in buy and sell activities, should also complete this form.

Instructions and Help about PH BIR Form 1706

The applicable tax return for an individual earning purely compensation income is the VAR form one seven zero the latest version of which was released only in January the revised form now has four pages and divided into five parts 1 2 3 are on page 1 this provides an overview about yourself and your tax liability for the year part 1 is all about you and your spouse please note that there are certain critical information that you need to provide on this page but which you may not readily have first is your Philippine tax identification number or your tin which can be found on your tin card second is the revenue district office code or the DO code this can be found in your application for registration otherwise this can be verified directly with a VAR taxpayer assistance division part 2 is a summary of your final tax liability and tax credits for the year the entries for this portion should be lifted from the computation of your tax liability and part 4 thus ideally you need to accomplish part for first before you complete part 2 part 3 details your tax payment that is the amount of X that you need to pay upon filing of your return and the mode by which you intend to settle the same part 4 is on page 2 and details the computation of your tax payable therefore you need to summarize all your earnings during the calendar year you would normally you're 30 or based obscure these items want to Ford provide a summary of your grass compensation income for the year and corresponding axis withheld by your employer icons 528 provide a detailed computation of your tax liability make sure that you take advantage of the allowable deductions and exclusions for employees such as the following 30 thousand pesos exception 413 c'mon pay bonuses and other benefits mandatory contributions as it s fill help and cut a bit de minimis benefits the same of these items check applicable to you should be indicated I inquire further as an individual taxpayer you are eligible to claim of basic personal exceptions with these action specials and if you have qualified dependent children an additional extension of 25,000 pesos for each of your dependent children up to a maximum of four the clickable image should be indicated I am tonight for your tax credits you have to refer to your VAR form to be 1/6 that will be issued to you by your local employer this amount will reduce your total 13 income tax liability and any difference between your capacity abilities in here withholding taxes is your meaning fax paper bar 5 is on page three innocent and fifteen source passive income such as interest dividend scatter they're subjected by Elton sent a scotch this portion is for information purposes only and no addition of back liability as expected service under this section the supplemental information was intended to be mandatory when it was first introduced in 2011 however the VA r has since then made compliance optional page four is an extension of part five on this page you can indicate...

People Also Ask about

How to fill out 1706?

2:39 3:32 Capital Gains Tax Return 1706 Guide on how to fill out - YouTube YouTube Start of suggested clip End of suggested clip And or improvement. Based on the tax declaration. Or based on the zonal. Value input the appropriateMoreAnd or improvement. Based on the tax declaration. Or based on the zonal. Value input the appropriate. Amount in item 30 c of the bir.

What is tax type 1706?

The Capital Gains Tax Return (BIR Form No. 1706) shall be filed and paid within thirty (30) days following the sale, exchange or disposition of real property, with any Authorized Agent Bank (AAB) or Revenue Collection Officer (RCO) of the Revenue District Office (RDO) having jurisdiction over the place where the

How do I avoid capital gains tax on primary residence?

How to avoid capital gains tax on real estate Live in the house for at least two years. The two years don't need to be consecutive, but house-flippers should beware. See whether you qualify for an exception. Keep the receipts for your home improvements.

How to fill up 1706?

2:39 3:32 Capital Gains Tax Return 1706 Guide on how to fill out - YouTube YouTube Start of suggested clip End of suggested clip And or improvement. Based on the tax declaration. Or based on the zonal. Value input the appropriateMoreAnd or improvement. Based on the tax declaration. Or based on the zonal. Value input the appropriate. Amount in item 30 c of the bir.

Do I have to pay capital gains tax immediately?

You only pay the capital gains tax after you sell an asset. Let's say you bought your home 2 years ago and it's increased in value by $10,000. You don't need to pay the tax until you sell the home.

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What is PH BIR Form 1706?

PH BIR Form 1706 is a tax return form used in the Philippines for reporting capital gains tax on the sale of real property.

Who is required to file PH BIR Form 1706?

Individuals and entities who have sold or exchanged real property in the Philippines are required to file PH BIR Form 1706.

How to fill out PH BIR Form 1706?

To fill out PH BIR Form 1706, taxpayers must enter their personal information, details of the property sold, and the relevant financial information including the sale price and the computed capital gains tax.

What is the purpose of PH BIR Form 1706?

The purpose of PH BIR Form 1706 is to facilitate the reporting and payment of capital gains tax derived from the sale or transfer of real properties in the Philippines.

What information must be reported on PH BIR Form 1706?

Information that must be reported on PH BIR Form 1706 includes the taxpayer's name, Tax Identification Number (TIN), details of the property sold, the selling price, and the calculated capital gains tax.