Amending Sections 5(c) and 7(a) of Revenue Regulations No. 8-79 Regarding the Place of Filing of the Capital Gains Tax Return on Sale of Real Property and the Application for Issuance of Certification

June 28, 1984 REVENUE REGULATIONS NO. 09-84 SUBJECT : Amending Sections 5(c) and 7(a) of Revenue Regulations No. 8-79 Regarding the Place of Filing of the Capital Gains Tax Return on Sale of Real Property and the Application for Issuance of Certification TO : All Internal Revenue Officers and Others Concerned Pursuant to Section 326 in relation to Section 4 of the National Internal Revenue Code, as amended, the following amendments to Revenue Regulations No. 8-79 are hereby promulgated and shall be known as Revenue Regulations No. 9-84. cdt SECTION 1 . Section 5(c) of Revenue Regulations No. 8-79 is hereby amended to read as follows: "Sec. 5. Capital gains tax returns; time and place of filing . (a) In general. xxx xxx xxx "(b) Returns for installment payments. xxx xxx xxx "c) Place of filing. Except in cases where the Commissioner otherwise permits, the capital gains tax return required in the preceding subparagraphs (a) and (b) shall be filed with the Revenue District Officer, Collection Agent, or duly authorized Treasurer of the city or municipality where the real property sold or disposed of is located." "d) Information return to be filed by the buyer. xxx xxx xxx SECTION 2 . Section 7(a) of the said Revenue Regulations is hereby amended to read as follows: "Sec. 7. Application for issuance of a certification. (a) Reasons for certification . The seller or buyer or both may apply for issuance or a certification by the Commissioner or by the Revenue District Officer (hereinafter referred to as the "Authorized revenue officer") having jurisdiction over the place where the real property sold or disposed of is located, for the following reasons: xxx xxx xxx SECTION 3 . The provisions of Revenue Regulations No. 8-79 and of other pertinent revenue issuances which are inconsistent herewith are hereby revoked or amended accordingly. SECTION 4 . This amendatory regulations shall take effect immediately upon approval. CESAR E. A. VIRATA Minister of Finance Recommended by: RUBEN B. ANCHETA Acting Commissioner