Summary
RMC No. 43-2018 creates a fast lane in the Revenue District Offices for simple One-Time Transactions (ONETT).
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Key points
- Covered transactions. The fast lane is for individuals or corporations filing Capital Gains Tax or Donor’s Tax returns with only one (1) Deed of Sale/Exchange/Donation involving one (1) to three (3) properties.
- Processing time. The electronic Certificate Authorizing Registration (eCAR) is released within three (3) working days after complete documents are submitted.
- Bank certificate. The documents include a Certificate from the Authorized Agent Bank, which the taxpayer secures right after paying for a cash transaction.
Who is affected
- Individuals or corporations filing Capital Gains Tax or Donor’s Tax returns for simple ONETT
Deadlines and effectivity
- eCAR released within three (3) working days from complete submission
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.