RMC No. 29-2015: Publishes the full text of the Memorandum of Agreement among the Department of Finance, Department of Justice, BIR and the Land Registration Authority

Key points

1. Purpose. The Parties set up the infrastructure linking the BIR with the LRA and the Registries of Deeds nationwide. The LRA and Registries of Deeds can then verify all real property transfers against BIR clearances, and the BIR can check that every such transfer has a corresponding clearance.
2. BIR functions. The BIR continues issuing Certificates Authorizing Registration (CAR) for taxable and tax-exempt transactions as the basis for transfers. It furnishes reports on CARs issued and generated online to the Registries of Deeds for automated verification, and receives and matches the LRA’s electronic report on the new number generated for the newly issued TCT/CCT/OCT.
3. Other BIR commitments. The BIR provides training to concerned personnel and implements an information campaign on the automated verification process. It also takes disciplinary action against BIR personnel who violate the MOA.
4. Inter-agency committee. The committee under the BIR-LRA MOA dated February 8, 2011 is expanded to include DOJ and DOF representatives. It convenes within fifteen (15) days from signing of the Agreement to prepare the implementing rules and regulations.

Who is affected

• Department of Finance
• Department of Justice
• BIR
• Land Registration Authority and Registries of Deeds

Deadlines and effectivity

• Inter-agency committee convenes within fifteen (15) days from signing of the Agreement