On May 12, 2014, theBureau of Internal Revenue issued Revenue Memorandum Circular No. 40-2014onPrescribing the Use ofElectronic Certificate Authorizing Registration(BIR Form No. 2313-R for Transaction Involving Transfer of Real Properties and BIR Form No. 2313-P for Transaction Involving Transfer of Personal Properties).
In this memorandum, the previous manual issuance of theCertificate Authorizing Registration (CAR)shall be discontinued, and instead, theElectronic CAR or eCARsystem shall take its place.
As provided for by theBureau of Internal Revenue, the eCAR shall be issued by the Revenue District Office (RDO) that has jurisdiction as to “where the taxpayer is registered, in case of shares of stock, upon receipt of complete documentary requirements and to be signed by the Revenue District Officer (RDO)/Assistant Revenue District Officer (ARDO)/Chief, Assessment Section (CAS).”
Those who may avail of the eCAR are “taxpayers transferring ownership of real/ personal properties arising from sale”.
Requirements for the issuance of eCAR
The following are the requirements specified by the BIR that one must submit for the processing of theeCAR:
A. “Tax Returns filed with proof of payments of tax due and certification fee and loose documentary stamp tax (DST)[Revenue Official Receipt, Duly Validated Bank Deposit Slip with Certification from the Authorized Agent Bank (AAB) which received the tax payment], Payment Confirmation/ Reference Number, if payment made thru ePayment channel, Copy of Tax Debit Memo used as payment, or Certificate of Tax Exemption, if no payment returns; (One (1) original copy and two (2) photocopies);
B. ONETT Computation Sheet of Tax Dueduly approved by the authorized Revenue Officer; One (1) original copy and two (2) photocopies);
C. Any of the following applicable documentif the person presenting is not among the parties to the transaction: (One (1) original copy and two (2) photocopies);
I. Notarized Special Power of Attorney;
II. Secretary’s Certificate or Board Resolution;
III. Certification from the Philippine Consulate or Hague Apostille Convention (if executed abroad).”
Follow the steps to be able to complete the processing of theeCAR for the shares of stock:
A. On the assigned date given to the applicant, the applicant must submit all the mandatory documents stated above to the Revenue Officer located at the Assessment Section;
B. Once the documents have been checked as to its completeness, the applicant shall then receive the Checklist of Documentary Requirements or CDR, as well as the Claim Slip from the Revenue Officer of the Day. The Claim Slip shall contain the date as to when the eCAR shall be released;
C. On the date given by the issued Claim Slip, once you have shown the corresponding Claim Slip, as well as the original documents for the verification of the previously submitted photocopies for the request of the ONETT Computation Sheet (OCS), you may now proceed to claim the eCAR from the Revenue Officer of the Day.
Need further information and assistance in processing eCAR for Transfer of Shares of Stocks? Talk to our team at FILEDOCSPHIL to know more about the requirements and process. Call us today at (+63) 917 149 2337 or send an email to info@filedocsphil.com or simply message us through the live chat for more information.
