Power of the Duly Authorized Internal Revenue Officer or Examiner
BIR Ruling No. 202-59 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Mar 24, 1959
Full text
March 24, 1959 BIR RULING NO. 202-59 Mr. Vicente J. Francisco Francisco Law Offices Suites 200-205 Samanillo Bldg. Escolta, Manila S i r : With reference to your letter dated February 19, 1959, I have the honor to inform you that a duly authorized internal revenue officer or examiner has the power to appraise the fair market value of property for inheritance tax purposes. Said power emanates from the duty of the Collector (now Commissioner) of Internal Revenue to appraise the fair market value of property provided for in section 91 of the National Internal Revenue Code. A revenue examiner may not be considered as expert on the matter of appraising the fair market value of property but as long as such examiner follows the standard rules and/or methods used by this Office in arriving at the fair market value, the appraisal is presumed correct until the contrary is proven. LLphil Very truly yours, (SGD.) JOSE ARAAS Commissioner of Internal Revenue
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.