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RMC No. 70-2018: Circularizes the revised BIR Form No. 1306 (Declaration of Forfeiture of Real Property) and the Affidavit of Consolidation of Title of Absolutely Forfeited Property in Favor of the Republic of the Philippines

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Summary

RMC No. 70-2018 circularizes the revised BIR Form No. 1306 (Declaration of Forfeiture of Real Property) and the form for Consolidation of Titles of Absolutely Forfeited Property in Favor of the Republic of the Philippines.

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Key points

  1. BIR Form No. 1306. It is used for want of bidder or insufficient consideration at the public auction sale of a delinquent taxpayer’s seized real property.
  2. Consolidation of Titles form. It is used for transferring to the Republic of the Philippines the title to absolutely forfeited real properties.

Who is affected

  • Delinquent taxpayers with seized real property

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.