Revised Zonal Values of Real Properties in Pasay City Under RDO No. 51 (Pasay City)

January 8, 1993 DOF DEPARTMENT ORDER NO. 019-93 ( Superseded by D.O. 26-16) SUBJECT : Implementation of the Revised Zonal Values of Real Properties in Pasay City Under Revenue District Office No. 51 (Pasay City), Revenue Region No. 8 (Makati), 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 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. cdt By virtue of said authority, the Commissioner of Internal Revenue has determined the zonal values of real properties located in Pasay City under the jurisdiction of Revenue District Office No. 51 (Pasay City), Revenue Region No. 8 (Makati) after a public hearing was conducted on November 26, 1992 for the purpose. This Order is issued to implement the revised zonal values for land and improvements in the case of condominium/townhouses, commercial and industrial buildings 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 provincial or city assessor is higher than the zonal values established herein, such values shall be used as basis for computing the internal revenue tax. This Order shall take effect immediately. (SGD.) RAMON DEL ROSARIO, JR. Secretary of Finance RECOMMENDED BY: (SGD.) JOSE U. ONG Commissioner of Internal Revenue