Tax on Non-Profit Property Disposition

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BIR REVENUE MEMORANDUM CIRCULAR NO. 7-2012: Tax on Non-Profit Property Disposition

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Title Supreme Court: Tax on Non-Profit Property Disposition

Law: Bir Revenue Memorandum Circular No. 7-2012

Decision Date: Feb 23, 2012

BIR Revenue Memorandum Circular No. 7-2012 clarifies that non-stock, non-profit organizations, such as the Mary Immaculate Development Foundation, Inc. (MIDFI), are liable for capital gains tax and documentary stamp tax on the sale of real property, despite their tax-exempt status.

capital gains

documentary stamp

profit organization

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