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RMC No. 58-2017: Publishes the full text of the Memorandum of Agreement among the Housing and Urban Development Coordinating Council, Bureau of Internal Revenue and National Housing Authority

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Summary

RMC No. 58-2017 publishes the full text of the Memorandum of Agreement among the HUDCC, the BIR and the National Housing Authority (NHA) on Certificates of Tax Exemption for transfers of raw land to the NHA for socialized housing projects under RA No. 7279.

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Key points

  1. BIR commitments. The BIR prioritizes and expedites Certificates of Tax Exemption for raw land transfers to the NHA for national government socialized housing. This covers projects for families affected by calamities, clearing of waterways and esteros, government infrastructure projects, and those living in danger areas.
  2. Streamlining. The BIR streamlines the process by reducing or eliminating unnecessary documentary requirements. Requests are processed directly at the Office of the Commissioner.
  3. HUDCC role. The HUDCC helps the BIR identify and monitor qualified socialized housing projects by submitting a regularly updated master list of national government projects.
  4. NHA role. The NHA indorses the contractor’s application, assists in evaluating and verifying the documents attached, and provides a list of authorized officers to certify NHA records.

Who is affected

  • HUDCC
  • BIR
  • National Housing Authority

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.

Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.