What is this form?

BIR Form 1606, or also known as Withholding Tax Remittance Return for Onerous Transfer of Real Estate Property other than Capital Assets. Taxes may be taxable or exempt.

Who should file this form?

This return is filed by every Withholding Agent/Buyer on the sale, transfer, or exchange of real property classified as an ordinary asset.

When to file this form?

This return is filed on or before the tenth (10th) day following the end of the month in which the transaction occurred.

How to File?

To file a BIR Form 1606 in Fast File, follow the steps below:

STEP 1: From your portal click on the Start Return button.

STEP 2: Select General Forms and hit Next.

STEP 3: Choose 1606 then click the Next button.

STEP 4: Select the date of the transaction covered in this report. Choose from the Year and Month drop-down buttons then click Next.

STEP 5: In the second section of the form, enter all Background information properly based on your BIR Certificate of Registration (COR / Form 2303).

Certain parts of the form are already pre-populated based on the information that you have provided during the Organization setup.

In the Seller's Information part, enter the Seller's TIN, RDO Code, Name, and Business Address. Lastly, choose the Category of the Withholding Agent.

STEP 6: In the second section of the form, enter the Property Information.

Choose Installment Sale in item 20 to enable data entry in item 21.

STEP 7: In the Fair Market Value section, enter the assessed value of the property based on factors 27 A-D (as seen on the report).

STEP 8: In this section, items 28 A & B are pre-populated based on the information you entered in the previous sections of the form. Fill out the rest of the details to determine your Taxable Base.

STEP 9: In the final section, Summary of Tax Due/Overpayment, select the appropriate Tax Rate and fill out the required fields left.

That's it! You can now proceed to the payment stage by clicking the Filing Options button located on the top-right part of the page.

Please take note that your tax forms will be sent electronically to the BIR until 9 pm. Any forms that will be sent beyond that filing deadline will be transmitted within the next business day.

BIR Form 1606 is straight-out simple to fill out and complete. Get started on your tax-compliance journey today and start filing at https://juan.tax/fast-file 🤗

Helpful Links:

e-Filing Taxes to the BIR

e-Payment of Taxes to the BIR

Buying Credits for JuanTax Fast File

Tax and Payment Confirmation in Fast File

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