CWT: The Tax You Pay Before You Get Paid
When the Seller is a Business. If you buy from a regular person, you pay Capital Gains Tax (CGT). If you buy from a Bank (like in an auction) or a Developer, you deal with CWT (Creditable Withholding Tax). Why It Matters to You Usually, the price listed is “Net of Tax.” However, in many […]
When the Seller is a Business. If you buy from a regular person, you pay Capital Gains Tax (CGT). If you buy from a Bank (like in an auction) or a Developer , you deal with CWT (Creditable Withholding Tax) . Why It Matters to You Usually, the price listed is “Net of Tax.” However, in many bank auctions, the Bank pays the CWT . This is a huge saving for the buyer. Always check the “Terms of Reference” to see who shoulders the CWT.
