BIR REGULATIONS and ISSUANCES Affecting Real Estate
Revenue Memorandum Circular No. 58-2008
clarifies the time within which to reckon the redemption period on the foreclosed asset and the period within which to pay Capital Gains Tax or Creditable Withholding Tax and Documentary Stamp Tax on the foreclosure of real estate mortgage by those governed by the General Banking Law of 2000 (Republic Act No. 8791), as well as the venue for the payment of these taxes. [ August 15, 2008 ]
Amends the venue for the payment of Capital Gains Tax, CreditableWithholding Tax and Documentary Stamp Taxes due on onerous transfers of real properties owned by taxpayers classified as large taxpayers
RMC No. 72-2007
Circularizes the full text of Administrative Order No. 186 directing the City Assessor, Municipal Assessor and Provincial Assessor to annotate in all Tax Declarations the serial number of the CAR issued by the BIR
RMC No. 76-2007
Prescribes the additional mandatory documentary requirements for one-time transactions involving transfers of real property
RMC No. 27-2006
Publishes the full text of Executive Order No. 525 issued by the President of the Philippines entitled "Creating a Special Task Force to Investigate Irregularities Committed in Relation to the Payment of Taxes in Transfers of Titles of Real Properties and For Other Purposes."
Amends further pertinent provisions of RR Nos. 2-98, 8-98 and 13-99, as amended, by providing for additional transactions subject to Creditable Withholding Tax and re-establishing the policy that the Capital Gains Tax on the sale, exchange or other disposition of real property classified as capital assets shall be collected as a Final Withholding Tax
(published in Manila Bulletin on May 8, 2003)
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