Bureau of Local Government Finance Opinion

March 23, 2012 BUREAU OF LOCAL GOVERNMENT FINANCE OPINION Ms. Joan C. Ang President Peaksun Enterprises & Export Corporation 2/F Peaksun Bldg., 1505 Princeton St. Mandaluyong City Madam : This has reference to your letter dated May 11, 2012, asking for a rebate on real property taxes paid on the real property owned by Peaksun Enterprises & Export Corporation located at the 2nd Floor, Peaksun Bulk Sales, 2-B Bilukaw Manila East Road, Taytay, Rizal. CTaIHE In this connection, enclosed is a copy of our 1st Indorsement of even date addressed to the Municipal Assessor and Municipal Treasurer, both of the Municipality of Taytay, Rizal, which opined that: "the subject 2nd Floor of Peaksun should be exempt from real property tax, effective CY 2011, as evidenced by the submitted copy of Contract of Lease. However, our opinion does not preclude an earlier reckoning date of exemption of the said property if Peaksun can provide additional proof of exemption." We trust that your query has been addressed accordingly. Very truly yours, (SGD.) SALVADOR M. DEL CASTILLO OIC-Executive Director