TAX NOTES
BIR creates fast lane
TO better serve the public, the Bureau of Internal Revenue (BIR) announced it has created a fast lane for one-time, simple transactions. Revenue Memorandum Circular (RMC) No. 43-2018 issued last May 18 states that the fast lane caters to individuals or corporations filing capital gains tax or donor’s tax returns with only one deed of sale, exchange, or donation involving one to three properties.