Philippines: Availability of certain forms; venue for registering tax-free exchanges of properties

Revenue Memorandum Circulars issued to circularize availability of forms and venue for registering tax-free exchanges of properties

Availability of certain forms; venue for registering tax-free exchanges of properties

The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 60-2023 (dated 19 May 2023) to circularize the availability of the enhanced BIR registration forms (Nos. 1901, 1902, 1903, 1904 and 1905) relative to the implementation of Ease of Doing Business and Efficient Government Service Delivery Act of 2018.

The BIR also issued RMC No. 65-2023 (dated 8 June 2023) to amend, effective immediately, Item VIII of RMC No. 19-2022 on the venue for the issuance of certificate authorizing registration relative to tax-free exchanges of properties. As amended by the RMC, the parties to the transaction must, in all cases, submit the documentary requirements to the Revenue District Office (RDO)/Large Taxpayers (LT) office having jurisdiction over the place where the transferee/surviving corporation is registered regardless of the number of real properties and/or shares of stocks involved in a transaction, and whether or not, those properties are situated in various locations covered by different RDOs/LT offices.

Read a June 2023 report prepared by the KPMG member firm in the Philippines


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