Indication of the Assessed Value of Real and Personal Property

October 16, 1958 BIR RULING NO. 581-58 Sycip, Quisumbing, Salazar & Associates 5th Floor, Trade & Commerce Bldg. 215 Juan Luna, Manila Gentlemen : With reference to your letter dated October 13, 1958, I have the honor to inform you as follows: cdti For purposes of the tax census, it is sufficient that the assessed value of real and personal property is indicated. The acquisition cost and fair market value of such properties need not be indicated. Cash on hand and in banks need not be declared. The item on personal, family and living expenses must be filled. Non-resident aliens having properties in the Philippines must file the sworn statement thru their administrators. For this purpose, the written authority of the principal is not required. For purposes of the tax census, any person charged with the care of the property of a non-resident alien is considered an administrator. Where either spouse is out of the country, the present spouse may subscribe alone their consolidated declaration; but the fact that the other spouse is out of the country should be noted in the space provided for the signature of the absent spouse. cdll Very truly yours, (SGD.) MELECIO R. DOMINGO Acting Commissioner of Internal Revenue