Daily TribuneThe BIR guidance outlines procedures for filing and paying taxes on property transfers, including sales of real property, shares of stock, donations and estate settlements and the corresponding taxes applicable to each transaction.
The Bureau of Internal Revenue (BIR)
The Bureau of Internal Revenue (BIR) has released a new set of guidelines to simplify the processing of property-related tax transactions, issuing a compilation of frequently asked questions covering the application for the One-Time Transaction (ONETT) Computation Sheet (OCS) and the Electronic Certificate Authorizing Registration (eCAR).
Issued through Revenue Memorandum Circular (RMC) No. 75-2026, the guidance outlines the procedures for filing and paying taxes on property transfers, including sales of real property, shares of stock, donations and estate settlements.
It also details documentary requirements, processing offices, prescribed timelines and the corresponding taxes applicable to each transaction.
Rules on issuance, replacement and eCARs validity
The circular further explains the rules on the issuance, replacement and validity of eCARs, while addressing common questions encountered by taxpayers during the processing of one-time transactions.
According to the BIR, the issuance seeks to provide clearer guidance for taxpayers and stakeholders, promote the uniform implementation of existing policies and help speed up the processing of ONETT Computation Sheets and Electronic Certificates Authorizing Registration.
