Creation of Fast Lane for All One-Time Transactions (ONETT) Involving Simple Transaction

May 18, 2018 REVENUE MEMORANDUM CIRCULAR NO. 043-18 SUBJECT : Creation of Fast Lane for All One-Time Transactions (ONETT) Involving Simple Transaction TO : All Internal Revenue Officers, Employees and Others Concerned In line with the BIR's efforts to promote the delivery of quality service to all stakeholders, all One-Time Transaction (ONETT) Teams are hereby directed to create a fast lane that will cater to individuals or corporations filing Capital Gains Tax or Donor's Tax Returns with only one (1) Deed of Sale/Exchange/Donation involving one (1) to three (3) properties. To comply with the provisions of Republic Act (RA) No. 9485, otherwise known as the "Anti Red Tape Act of 2007" (ARTA), these transactions shall be processed and the corresponding eCARs released within three (3) working days upon submission of complete documentary requirements. The ONETT under the fast lane shall be processed by the Group Supervisor of the Assessment Section assigned as Officer of the Day and approved by the Assistant Revenue District Officer/Revenue District Officer (RDO) depending on the threshold set forth under Revenue Memorandum Order No. 55-2016. The submission of the complete documentary requirements should include a Certificate from the Bank signed by the Cashier and countersigned by the Manager with bank seal that will be secured by the taxpayer immediately after payment for cash transaction from the Authorized Agent Bank (AAB). Consequently, the RDO shall request for the specimen signatures of the Cashier and Bank Manager from the AABs located within his/her jurisdiction. DETACa All internal revenue officials, employees and others concerned are hereby enjoined to give this circular as wide a publicity as possible. (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue