On May 12, 2014, the Bureau of Internal Revenue issued Revenue Memorandum Circular No. 40-2014 on Prescribing the Use of Electronic 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 the Certificate Authorizing Registration (CAR) shall be discontinued, and instead, the Electronic CAR (E-CAR) shall take its place.
As provided for by the Bureau 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”.
The following are the requirements specified by the BIR that one must submit for the processing of the eCAR:
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 Due duly approved by the authorized Revenue Officer; One (1) original copy and two (2) photocopies);
C. Any of the following applicable document if 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).”
The necessary steps that the applicant must do to be able to complete the processing of the eCAR for the shares of stock are as follows:
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 regarding E-CAR shares of stock in the Philippines? Talk to our team at FILEDOCSPHIL to know more about the requirements and process. Call us today at (+632) 8478 5826 or send an email to info@filedocsphil.com for more information.