BIR Updates Rules for One-Time Transaction Processing

The Bureau of Internal Revenue (BIR) said it updated the rules for processing one-time transactions (ONETT) as it moves to standardize procedures and improve the issuance of computation sheets and electronic Certificates Authorizing Registration (eCAR). In Revenue Memorandum Order No. 17-2026, the BIR revised the ONETT processing guidelines involving the sale and donation of real and personal property, streamlining procedures for both manual and electronic applications through the eONETT system. According to the BIR, ONETT also includes the transfer of stocks not traded on the stock exchange, donations of property and transfers of property from a decedent’s estate. The guidelines require simple ONETT transactions to be processed and computation sheets be issued within three working days upon receipt of complete documentary requirements. These include transactions involving the transfer of three or fewer properties or types of share that do not require inspection. Meanwhile, the processing and issuance of computation sheets for complex transactions, or those involving the transfer of more than three properties or types of share, should not exceed seven working days. On the other hand, highly technical transactions, such as estate tax cases and those involving the transfer of more than 20 stock certificates, properties or parties, should be processed within 20 working days. For the processing of eCARs, the BIR said the issuance should not exceed seven working days from receipt of complete documentary requirements. The BIR also said that tax returns for ONETT transactions should be filed electronically under the Ease of Paying Taxes Act. However, it clarified that while filing and payment may be made electronically, applications for eCARs must still be processed by the Revenue District Office with jurisdiction over the transaction. Meanwhile, the guidelines provide that an ocular inspection may be conducted when necessary, including in cases where there are discrepancies involving property improvements or when taxpayers invoke special laws resulting in lower taxes. The updated procedures also require taxpayers to present original or certified true copies of documents for authentication during the processing of ONETT applications. Once the eCAR is issued, the BIR will stamp the word “USED” on all copies of the proof of payment and indicate the eCAR number, date of issuance, and the approving officer’s signature on the back of the original transfer document before returning it to the taxpayer. — Justine Irish D. Tabile