THE Land Registration Authority (LRA) and the Bureau of Internal Revenue (BIR) said they signed a memorandum of agreement (MoA) running for five years which will allow the two agencies to share records in aid of improving tax assessments and collections.
The MoA was detailed in Revenue Memorandum Circular No. 123-2020 issued by BIR Commissioner R. Dulay on Monday, a copy of which was published the next day on the bureau’s website.
The agreement allows LRA to share with the BIR the personal data of registered property owners.
The BIR can also share personal data of taxpayers with the LRA, which the latter can use to validate tax declarations.
“BIR and LRA shall implement appropriate security measures… to ensure protection of the personal information of data subjects, including the policy for retention, destruction and disposal of records,” it said. — Beatrice M. Laforga
#realestateblogph | #realestateblogphpropertynews | #REBPH | #realestate | #landregistration | #realestatedata | #LRA | #BIR
Article and Photo originally posted by Business World last November 24, 2020, 7:11pm.
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