Updated almost 5 years ago on . Most recent reply
Land sale in Cebu Philippines
Hello BP,
My in-laws and a few relatives own 10 hectares on virgin beach land in Cebu Philippines. They are looking to sell. They were born in the Philippines and are living in the US as American citizens. The question that they have is how the sale of the land will be taxed and if there will be any issues with the sale monies transferring to the US? Are there limitations or restrictions? Trying to assist them with the process. Thanks. Any insight or information would be greatly appreciated.
Most Popular Reply
Usually for the seller's account it's 6% capital gains tax on the land sale, unpaid RE tax if any, and 3% broker's fees. Fund transfer fees to the US will depend on the remittance service used.