8box Solutions Inc.


Contact Number: 09369340340
Email: sales@8box.solutions

REVENUE REGULATIONS NO. 24-2002 issued on December 16, 2002 prescribes the information/summary schedules to be periodically submitted to the BIR by the Land Registration Authority (LRA), the Register of Deeds (RD) and the Assessor’s Office relative to the recording/registration of transfers of real properties administered by the RD/Assessors, as well as the manner of issuance, recording and monitoring of the Certificate Authorizing Registration (CAR). The LRA shall provide the BIR National Office (Asset Valuation Division or its equivalent office) with the following monthly schedules on or before the 15th day of the following month: 1) summary list of blank OCTs/TCTs/CCTs issued to all RDs, with mention of the sequential serial number; 2) summary schedules of all transfers for a particular month of titled real properties effected by each RD; and 3) summary schedule of transferred untitled real properties which have been entered in the Primary Book of Entry and the Book of Registration, for transfer of real properties under Act 3344. Each RD shall likewise provide their respective BIR Regional Office (Assessment Division) the aforementioned monthly schedules, which will be validated by the appropriate BIR office with the schedules provided by the LRA. In order to ensure the authenticity of the CARs presented by taxpayers to the RDs, the Revenue District Officers (RDOs) shall furnish the LRA/RD within their jurisdiction the following: 1) the serial numbers of all blank CARs assigned to them (to be furnished in advance); 2 the Summary List of CARs Issued (on monthly basis); and 3) copies of pertinent revenue issuances relative to transfers affecting real properties. The RDO shall likewise submit to the receiving RD and LRA the “List of Countersigned CARs”, with reference to the processing RDO, containing the information required in the “List of CARs Issued”. Before the CAR is released to taxpayers, all copies of the document of sale/exchange or transfer shall first be presented to the assigned revenue officers who shall indicate at the back of said documents the information contained in the CAR, as specified in the Regulations. The CAR shall have a validity period of one (1) year for purposes of presenting the same to the RD. In case of failure to present the same to the RD within the one-year validity period, the same may still be revalidated, but the total period of validity cannot exceed two (2) years counted from the date of issuance of the CAR. No registration of any document transferring real property shall be effected by the RD unless the Commissioner or his duly authorized representative has certified that such transfer has been reported, and the final capital gains tax, creditable withholding tax, estate tax, donor’s tax, or documentary stamp tax, if any, has been paid. No registration of any document transferring untitled real property shall be effected by the City or Municipal Assessor’s Office unless proof is presented that the document of transfer has already passed through the RDs. The BIR shall, at regular interval, inspect and audit the records of the LRA/RD and City/Municipal Assessors to check on the compliance with the provisions of tax laws and implementing regulations. All CARs which are more than two (2) years old shall be revalidated within 60 days from effectivity of the Regulations and must be presented to the RD within thirty (30) days from the date of revalidation.