Question & AnswerQ&A (BIR REVENUE REGULATIONS NO. 5-2009)
The main purpose is to revert the venue for the filing of returns and payment of taxes due on sale, transfer or exchange of real property of large taxpayers to the place where the property is located, specifically to the Authorized Agent Banks within the Revenue District Office having jurisdiction over the property.
Capital Gains Tax Return (BIR Form No. 1706), Creditable Withholding Tax Return (BIR Form No. 1606), and Documentary Stamp Tax Return (BIR Form No. 2000-OT).
They should be paid at an Authorized Agent Bank located within the Revenue District Office having jurisdiction over the place where the property being transferred is located.
Within thirty (30) days following each sale, exchange or disposition.
Within five (5) days after the close of the month when the taxable document was made, signed, accepted or transferred.
Yes, the rules on venue for filing returns and payment of taxes apply to both large taxpayers and non-large taxpayers.
The CAR/TCL shall be deemed permanently expired and of no effect, requiring new returns and proof of tax payments to produce a new CAR/TCL.
The RDO must notify the RDO having jurisdiction over the seller's place of business to conduct a post-audit of the seller's Quarterly Income Tax Return and Quarterly VAT Return to ensure correct tax payments.
If full payment of installments has been made and taxes paid to the Large Taxpayers Service Office, the CAR/TCL will be processed there. If payment is not complete, the remaining tax payment and CAR/TCL processing responsibility shift to the RDO where the property is located.