RMC No. 9-2023: Announces the availability of revised BIR Form Nos. 1606 and 1706 version January 2018

Summary

RMC No. 9-2023 announces the availability of revised BIR Form Nos. 1606 and 1706, version January 2018, revised due to the TRAIN Law.

Key points

1. Forms. BIR Form No. 1606 is the Withholding Tax Remittance Return for onerous transfer of real property other than capital asset. BIR Form No. 1706 is the Capital Gains Tax Return for onerous transfer of real property classified as capital asset, both taxable and exempt.
2. Where available. The revised manual returns are on www.bir.gov.ph. They are not yet in eBIRForms, so manual and eBIRForms filers download and print the PDF and fill out all applicable fields, or face penalties under Section 250 of the Tax Code.
3. Manual payment. Payment is made to an Authorized Agent Bank in the RDO where the property is located. Where there is no AAB, filing and payment go to the Revenue Collection Officer using the MRCOS facility.
4. Online payment. Channels are Landbank Link.Biz Portal, DBP PayTax Online and Union Bank Online/The Portal or UPAY via Instapay, each for specified account or card holders.

Who is affected

• Filers of BIR Form Nos. 1606 and 1706
• Sellers in onerous transfers of real property

Deadlines and effectivity

• Revised forms version January 2018, available as of January 26, 2023

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