REVENUE MEMORANDUM CIRCULAR NO. 65-2023 issued on June 8, 2023 amends Item VIll of Revenue Memorandum Circular (RMC) No. 19-2022 on the venue for the issuance of Certificate Authorizing Registration relative to tax-free exchanges of properties under Section 40(C)(2) of the National Internal Revenue Code (Tax Code) of 1997, as amended.
In compliance with Section 5 of Republic Act No. 11032 (Ease of Doing Business and Efficient Government Service Delivery Act of 2018), and to properly monitor transactions under Section 40(C)(2) of the Tax Code of 1997, as amended, Item VIll of RMC No. 19-2022 is hereby amended to read as follows:
“VIII. VENUE FOR THE ISSUANCE OF THE CERTIFICATE
AUTHORIZING REGISTRATION (CAR):
FOR PURPOSES OF THE ISSUANCE OF THE CAR FOR THE
TRANSFERRED PROPERTIES PURSUANT TO THE TAX-FREE
REORGANIZATION/EXCHANGE, THE PARTIES TO THE
TRANSACTION SHALL, IN ALL CASES, SUBMIT THE
DOCUMENTARY REQUIREMENTS LISTED IN ANNEX “B” HEREOF
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.”