On August 3, 2020, the Bureau of Internal Revenue issued Revenue Regulations (“RR”) No. 20-2020 amending RR No. 06-2013, clarifying the definition of the “fair market value” of shares of stock not listed and traded in the local stock exchange in relation to the computation of capital gains tax in the sale, barter or exchange of such shares of stock.
The article Ease of Valuation of Unlisted Shares, A Win For Taxpayers and Investors, written by the Firm’s Sylvette Y. Tankiang and Mandy Therese M. Anderson, briefly discusses the changes brought about by RR No. 20-2020 and its anticipated benefits.
Read the article here: https://www.lexology.com/library/detail.aspx?g=c4d9181a-91d2-4fe0-b6d7-c3e7b5732886