Bureau of Local Government Finance Opinion

June 17, 2002 BUREAU OF LOCAL GOVERNMENT FINANCE OPINION Mr. Gerino A. Tolentino, Jr. OIC-City Assessor's Office City of Manila S i r : This refers to the attached letter dated April 29, 2002 of the SAVP, Taxes and Licenses Division, EASTASIA College of Information Technology Far Eastern University, Nicanor Reyes Sr. St., City of Manila, in effect requesting reconsideration of the earlier opinions issued by this Bureau relative to the taxability of machineries used by educational institutions such as AMA and STI Computer schools. TIaCAc Representation is being made that office issued a "Notice of Assessment" dated March 19, 2002, requiring the said company to submit a sworn declaration "setting forth a full description of all machinery and equipment for real property taxation purposes". In this regard, enclosed is a copy of Local Finance Circular No. 001-2002, dated April 27, 2002 of the Department of Finance, which repealed/modified Joint Local Treasury Assessment Regulations (JLTAR) No. 1-88 dated May 4, 1988, directing all local assessors to list such machinery and equipment of non-stock non-profit educational institutions as "EXEMPT" in their respective assessment rolls upon compliance of the tax exempt individual or entity with the provisions of Section 206 of the Local Government Code. Be guided accordingly. Very truly yours, (SGD.) JUANITA D. AMATONG Undersecretary and Officer-In-Charge, BLGF