Publishing Batas Pambansa Blg. 221 Revising the Rates of Capital Gains Tax on Certain Shares of Stock

May 12, 1982 REVENUE MEMORANDUM CIRCULAR NO. 12-82 SUBJECT : Publishing Batas Pambansa Blg. 221 Revising the Rates of Capital Gains Tax on Certain Shares of Stock TO : All Internal Revenue Officials, Employees and others Concerned For the information and guidance of all concerned, Batas Pambansa Blg. 225 and 221 are one and the same law which revised the rates of capital gains tax on certain sales of shares of stock. This particular law was inadvertently numbered as BP Blg. 225 in Revenue Regulations No. 2-82. It was only after Revenue Regulations No. 2-82 was published that the Batasang Pambansa, thru its Finance Committee, informed the Bureau of the corrected number of the law. The salient features of Batas Pambansa Blg. 221 are: The sale of shares of stocks is subject to capital gains tax under Sec. 34(g) of the NIRC as amended. 1. Shares of stocks listed and traded through a local stock exchange 1/4 of 1% of the gross selling price of the shares of stock sold, exchanged or transferred. 2. Shares of stocks not traded through a local stock exchange On net capital gains derived during the taxable year from sales, exchanges, transfers or similar transactions of shares of stock, Not over P100,000 10% Over P100,000 20% The revised rates of tax under Batas Pambansa Blg. 221 took effect on March 25, 1982, the date of approval of the law. casia It is desired that this Circular be given as wide a publicity as possible. RUBEN B. ANCHETA Acting Commissioner