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RMC No. 90-2017: Prescribes additional mandatory requirement for all One-Time Transactions (ONETT)

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Summary

RMC No. 90-2017, issued on October 30, 2017, prescribes an additional mandatory requirement for all One-Time Transactions (ONETT).

Key points

  1. TIN before eCAR application. Taxpayers with the listed transactions must secure a Taxpayer Identification Number (TIN) before applying for an electronic Certificate Authorizing Registration (eCAR). For Donor’s Tax, the TIN of the donee/s is required.
  2. Other transactions. For Estate Tax, the TIN of the heir/s is required. For Sale of Shares of stock, the TIN of the buyer/s is required.

Who is affected

  • Taxpayers with Donor’s Tax, Estate Tax or Sale of Shares of stock transactions

Deadlines and effectivity

  • TIN required before the eCAR application

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.