Amendment to Department Order No. 90-88 Dated April 26, 1988 Implementing the Revised Zonal Values of Real Properties in the Municipalities of Mandaluyong and San Juan for Internal Revenue Tax Purposes.

January 29, 1990 DOF DEPARTMENT ORDER NO. 020-90 ( Declared Superseded by D.O. 29-16) SUBJECT : Amendment to Department Order No. 90-88 Dated April 26, 1988 Implementing the Revised Zonal Values of Real Properties in the Municipalities of Mandaluyong and San Juan 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. SEACTH By virtue of said authority, the Commissioner of Internal Revenue has revised the zonal values of real properties located in the Municipalities of Mandaluyong and San Juan, under Revenue District No. 31, Revenue Region 4B1, Quezon City. This Order is issued to implement revised zonal values for land and improvements in case of condominiums in the Municipalities of Mandaluyong and San Juan 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 and City Assessors is higher than the zonal value established herein, such values shall be used as basis for computing the internal revenue tax. aCTHEA This Order shall take effect immediately. (SGD.) JESUS P. ESTANISLAO Secretary of Finance RECOMMENDED BY: (SGD.) JOSE U. ONG Commissioner of Internal Revenue