Implementation of the Revised Zonal Values of Real Properties in the City of Alaminos and in the Municipality of Binmaley Under the Jurisdiction of Revenue District Office No. 05 (Alaminos, Pangasinan), Revenue Region No. 01 (Calasiao, Pangasinan) for Internal Revenue Tax Purposes

June 2, 2006 DOF DEPARTMENT ORDER NO. 004-07 ( Declared Superseded by D.O. 29-16) SUBJECT : Implementation of the Revised Zonal Values of Real Properties in the City of Alaminos and in the Municipality of Binmaley Under the Jurisdiction of Revenue District Office No. 05 (Alaminos, Pangasinan), Revenue Region No. 01 (Calasiao, Pangasinan) for Internal Revenue Tax Purposes TO : All Internal Revenue Officers and Others Concerned Section 6 (E) 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 tax purposes, the fair market value of real properties located in each zone or area upon consultation with competent appraisers both from private and public sectors. By virtue of said authority, the Commissioner of Internal Revenue has determined the zonal values of real properties ( 2nd Revision ) located in the City of Alaminos and in the municipality of Binmaley under the jurisdiction of Revenue District Office No. 05 (Alaminos, Pangasinan), Revenue Region No. 01 (Calasiao, Pangasinan) after public hearing was conducted on December 15, 2005 for the purpose. This Order is issued to implement the revised zonal values for land to be used in computing any internal revenue tax. 2007tax2ndrel In case the gross selling price or the market value as shown in the schedule of values of the provincial or city assessor is higher than the zonal value established herein, such values shall be used as basis for computing the internal revenue tax. This Order shall take effect immediately. (SGD.) MARGARITO B. TEVES Secretary of Finance RECOMMENDED BY: (SGD.) JOSE MARIO C. BUAG Commissioner of Internal Revenue