BIR clarifies rules on one-time property transactions

MANILA, Philippines — The Bureau of Internal Revenue (BIR) has issued a guide clarifying rules for one-time property tax transactions.

In Revenue Memorandum Circular 75-2026, the BIR addressed frequently asked questions on the issuance and processing of the Electronic Certificate Authorizing Registration (eCAR) and the One-Time Transaction (ONETT) Computation Sheet (OCS) for transactions involving real property, shares of stock, donations and estates.

The eCAR is a key document required before the Registry of Deeds and other government offices can register the transfer of ownership of taxable properties.

This is issued after the BIR verifies compliance with applicable tax obligations, making it an essential step in the transfer of real estate and certain shares of stock.

Meanwhile, the ONETT refers to tax assessment arising from the transfer of real properties, including shares of stocks not traded in the Philippine Stock Exchange, donations and estate transfers.

The circular serves as a consolidated guide for stakeholders and explains applicable taxes for different transactions, payment procedures, documentary requirements and the offices responsible for processing applications.

“The issuance of these (frequently asked questions) aims to provide taxpayers with clearer guidance on ONETT transactions, promote the uniform implementation of existing policies and facilitate faster and more efficient processing of applications for OCS and eCAR,” the BIR said.

It said that simple ONETT transactions  – involving three or fewer properties or shares per transaction that do not require ocular inspection – will be processed within three working days for computation sheets and seven working days for eCAR issuance, upon receipt of complete documentary requirements.

It added that the processing and issuance of eCAR, regardless of where the tax returns and the tax payments were made, should still be at the Revenue District Office, which has jurisdiction over the ONETT.