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Sunday, February 19, 2012

Who/what are considered exempt from the payment of Final Capital Gains Tax?

  • Dealer in securities, regularly engaged in the buying and selling of securities
  • An entity exempt from the payment of income tax under existing investment incentives and other special laws
  • An individual or non-individual exchanging real property solely for shares of stocks resulting in corporate control
  • A government entity or government-owned or controlled corporation selling real property
  • If the disposition of the real property is gratuitous in nature
  • Where the disposition is pursuant to the CARP law

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