Implementation of the Zonal Values of Real Properties in the Municipality of Marikina under Revenue District Office No. 35-A, Revenue Region 4-B1, Quezon City for Internal Revenue Tax Purposes.
DOF Department Order No. 012-91 • Department of Finance • DOF Orders • Jan 7, 1991
Full text
January 7, 1991 DOF DEPARTMENT ORDER NO. 012-91 ( Declared Superseded by D.O. 29-16) SUBJECT : Implementation of the Zonal Values of Real Properties in the Municipality of Marikina under Revenue District Office No. 35-A, Revenue Region 4-B1, Quezon City for Internal Revenue Tax Purposes. TO : All Internal Revenue Officers and Others Concerned. Section 16 (e) of the Tax Code, as amended by Presidential Decree No. 1994, authorizes the Commissioner of Internal Revenue to divide the Phillippines 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. TDSICH By virtue of said authority, the Commissioner of Internal Revenue has revised the zonal values of real properties located in the Municipality of Marikina under Revenue District Office No. 35A, Revenue Region 4B1, Quezon City, after a public hearing was conducted on October 30, 1990 for the purpose. This Order is issued to implement zonal values for land and as shown in Annex "A" hereof to be used in computing any internal revenue tax. In case the gross selling price or the market value as shown in the schedule of values of the City Assessors 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.) JESUS P. ESTANISLAO Secretary of Finance RECOMMENDED BY: (SGD.) JOSE U. ONG Commissioner of Internal Revenue
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