BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Jun 23, 1972
Full text
June 23, 1972 The Director BIR Revenue Region No. 9 San Pablo City S i r : This refers to the case of Mrs. Guadalupe R. Vda de Mojares. From your representation, it seems that taxpayer is repurchasing the property as in a negotiated sale. Considering the amount offered, however, it appears as if she is redeeming the property. For this reason, the offer cannot be accepted. In a negotiated sale of absolutely forfeited properties for non-payment of tax, the amount offered should at least approximate the fair market value of the property. Accordingly, you are hereby advised to continue selling the property at public auction. cdta Very truly yours, MISAEL P. VERA Commissioner of Internal Revenue
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