Manila: The Bureau of Internal Revenue (BIR) issued a circular to guide taxpayers on the application, processing, and issuance of the One-Time Transaction (ONETT) Computation Sheet (OCS) and the Electronic Certificate Authorizing Registration (eCAR) for property transactions.

According to Philippines News Agency, the bureau stated that Memorandum Circular (RMC) No. 75-2026 consolidates key policies and procedures covering ONETT transactions. This includes the applicable type of tax or taxes, filing and payment procedures, documentary requirements, processing offices, prescribed processing timelines, and other common concerns involving the transfer of real properties, shares of stock, donations, and estates.

The circular also clarifies the requirements for the issuance, replacement, and validity of eCARs, as well as the application of relevant tax rules in various transaction scenarios.

The issuance aims to provide taxpayers with clearer guidance on ONETT transactions, promote uniform implementation of existing policies, and facilitate faster and more efficient processing of applications for OCS and eCAR.