REVENUE MEMORANDUM CIRCULAR NO. 9-2023 issued on January 26, 2023 announces the availability of the following BIR Forms, which were revised due to the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law:
| Form No. | Description |
|---|---|
| 1606 | Withholding Tax Remittance Return [For Onerous Transfer of Real Property Other Than Capital Asset (Including Taxable and Exempt)] |
| 1706 | Capital Gains Tax Return (For Onerous Transfer of Real Property Classified as Capital Asset-both Taxable and Exempt) |
The revised manual returns are already available in the BIR website (www.bir.gov.ph) under the following section:
| Form No. | Description |
|---|---|
| 1606 | Withholding Tax Remittance Return [For Onerous Transfer of Real Property Other Than Capital Asset (Including Taxable and Exempt)] |
| 1706 | Capital Gains Tax Return (For Onerous Transfer of Real Property Classified as Capital Asset-both Taxable and Exempt) |
However, the forms are not yet available in the Electronic Bureau of Internal Revenue Forms (eBIRForms); thus, manual and eBIRForms filers shall download and print the PDF version of the forms and fill-out completely all the applicable fields, otherwise, said filers shall be subjected to penalties under Section 250 of the Tax Code, as amended. Payment of the tax due thereon, if any, shall be made thru:
a. Manual Payment
Authorized Agent Bank (AAB) located within the territorial jurisdiction of the
Revenue District Office (RDO) where the property being transferred is located;
In places where there are no AABs, return shall be filed and the tax due shall be
paid with the concerned Revenue Collection Officer (RCO) under the
jurisdicti on of the RDO using Mobile Revenue Collection Officer System
(MRCOS) facility.
b. Online Payment
Landbank of the Philippines (LBP) Link.Biz Portal – for taxpayers who have
Automated Teller Machine (ATM) account with LBP and/or holders of Bancnet
ATM/Debit Card/Prepaid Card of taxpayer utilizing Philippine Clearing House
Corporation (PCHC) PayGate or PESONet facility [depositors of Rizal
Commercial Banking Corporation (RCBC), Robinsons Bank, Union
Bank, Bank of the Philippine Islands (BPI), Philippine Savings Bank (PSBank)
and Asia United Bank];
Development Bank of the Philippines’ (DBP) PayTax Online – for holders of
VISA/MasterCard Credit Card and/or Bancnet ATM/Debit Card; or
Union Bank of the Philippines (UBP) Online/The Portal – for taxpayers who
has an account with UBP or Instapay using UPAY Facility for individual nonaccount holder of Union Bank.
In case of “No Payment Return”, taxpayer shall file the return to the Revenue District
Office having jurisdiction over the place where the property being transferred is located.