BIR Ruling [DA-373-00]

October 25, 2000 BIR RULING [DA-373-00] MEMORANDUM TO: Mr. Nieto A. Racho Revenue District Officer RDO No. 83, Talisay, Cebu This has reference to your letter dated October 24, 2000 requesting authority from this Office to accept the filing and payment of the Capital Gains Tax of approximately Two Hundred Eighty Million Pesos (P280,000,000.00) for the sale of stocks owned by persons residing outside your jurisdiction considering that several owners of the shares of stocks are residing in Metro Manila, and it would take a long time to facilitate the issuance of the Certificate Authorizing Registration (CAR for brevity) if payment would be coursed through its respected Revenue District Offices. Due to the exigency of the case and to generate immediately the much-needed revenues by the Government, your request to accept the filing and payment of Capital Gains Tax outside your jurisdiction is hereby GRANTED pursuant to Sections 51(B) and Section 77 of the 1997 Tax Code, which provides that: "SEC. 51. Individual Return . xxx xxx xxx (B) Where to File . Except in cases where the Commissioner otherwise permits , the return shall be filed with an authorized agent bank, Revenue District Officer, Collection Agent or duly authorized Treasurer of the city or municipality in which such person has his legal residence or principal place of business in the Philippines , or if there be no legal residence or place of business in the Philippines, with the Office of the Commissioner." (Emphasis ours.) SEC. 77. Place and Time of Filing and Payment of Quarterly Corporate Income Tax . (A) Place of Filing . Except as the Commissioner otherwise permits , the quarterly income tax declaration required in Section 75 and the final adjustment return required in Section 76 shall be filed with the authorized agent banks or Revenue District Officer or Collection Agent or duly authorized Treasurer of the city or municipality having jurisdiction over the location of the principal office of the corporation filing the return or place where its main books of accounts and other data from which the return is prepared are kept ." (Emphasis ours) Perforce, the imposition of the twenty-five percent surcharge under Section 248(A)(2) is hereby waived. (SGD.) DAKILA B. FONACIER Commissioner of Internal Revenue