Option to Buy and/or Sell a Tract of Agricultural Land is a Capital Asset: If Held More Than One Year
BIR Ruling No. 023-71 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered)
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No date supplied BIR RULING NO. 023-71 Option to buy and/or sell a tract of agricultural land is a capital asset: if held more than one year. cd The option given to a taxpayer to buy an agricultural land is a capital asset and the gain derived by him from the disposition of said option is a long term capital gain, considering that said option was held by him for more than a year. aisa dc
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