BIR Ruling on Payment of Capital Gains Tax during the Redemption Period

Dear Fellow Rural Bankers;

For your information and reference, attached is a copy of BIR Ruling No. 010-2005 to clarify the issue on the payment of capital gains tax and documentary stamp tax on foreclosures involving properties titled under homestead or free patent.

Very truly yours,

GEN. WILLIAM K. HOTCHKISS III (Ret)
President, 2005-2006