Revised Zonal Values of Real Properties (2nd Revision) in the Provinces of Kalinga and Apayao Under RDO No. 11

February 2, 2010 DOF DEPARTMENT ORDER NO. 002-10 SUBJECT : Implementation of the Revised Zonal Values of Real Properties (2nd Revision) in the Provinces of Kalinga (Municipalities of Balbalan, Lubuagan, Pasil, Pinukpukan, Rizal, Tabuk, Tanudan and Tinglayan) and Apayao (Municipalities of Calanasan, Conner, Flora, Kabungao, Luna, Pudtol and Sta. Marcela) Under the Jurisdiction of Revenue District Office No. 11-Tabuk, Kalinga-Apayao, for Internal Revenue Tax Purposes TO : All Internal Revenue Officers and Others Concerned Section 6 (E) of Republic Act No. 8424, otherwise known as the "Tax Reform Act of 1997", authorizes the Commissioner of Internal Revenue to divide the Philippines into different zones or areas and determine for internal revenue tax purposes, the fair market value of the real properties located in each zone or area upon consultation with competent appraisers both from the private and public sectors. By virtue of said authority, the Commissioner of Internal Revenue has determined the zonal values of real properties (2nd revision) in the Provinces of Kalinga (Municipalities of Balbalan, Lubuagan, Pasil, Pinukpukan, Rizal, Tabuk, Tanudan and Tinglayan) and Apayao (Municipalities of Calanasan, Conner, Flora, Kabungao, Luna, Pudtol and Sta. Marcela) under the jurisdiction of Revenue District Office No. 11-Tabuk, Kalinga-Apayao, Revenue Region No. 2-Cordillera Administrative Region, after public hearing was conducted on September 25, 2008. This Order is issued to implement the aforesaid revised zonal values of real properties for purposes of computing any internal revenue taxes due on sale/transfer or any other disposition of real properties. TEacSA The zonal values established herein shall apply provided the same is higher than (1) the fair market value as shown in the schedule of values of the provincial or city assessor and (2) the gross selling price/consideration as shown in the duly notarized document of sale or transfer of real property. This order shall take effect immediately. (SGD.) MARGARITO B. TEVES Secretary of Finance RECOMMENDED BY: (SGD.) JOEL L. TAN-TORRES Commissioner of Internal Revenue