Implementation of the Revised Zonal Values of Real Properties in the Municipalities of Altavas, Balete, Banga, Batan, Buruanga, Ibajay, Kalibo, Lezo, Libacao, Madalag, Makato, Malay, Malinao, Nabas, New Washington, Numancia and Tangalan Under Revenue District Office No. 51 (Kalibo, Aklan), Revenue Region 6A (Iloilo City) for Internal Revenue Tax Purposes.
DOF Department Order No. 020-95 • Department of Finance • DOF Orders
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1995 DOF DEPARTMENT ORDER NO. 020-95 ( Superseded by D.O. 26-16) SUBJECT : Implementation of the Revised Zonal Values of Real Properties in the Municipalities of Altavas, Balete, Banga, Batan, Buruanga, Ibajay, Kalibo, Lezo, Libacao, Madalag, Makato, Malay, Malinao, Nabas, New Washington, Numancia and Tangalan Under Revenue District Office No. 51 (Kalibo, Aklan), Revenue Region 6A (Iloilo 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 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. HECaTD By virtue of said authority, the Commissioner of Internal Revenue has determined the zonal values of real properties located in the municipalities of Altavas, Balete, Banga, Batan, Buruanga, Ibajay, Kalibo, Lezo, Libacao, Madalag, Makato, Malay, Malinao, Nabas, New Washington, Numancia, and Tangalan under jurisdiction of Revenue District Office No. 51 (Kalibo, Aklan), Revenue Region 6A, Iloilo City after a public hearing was conducted on October 14, 1993 for the purpose. This Order is issued to implement zonal values for land and improvements in the case of condominiums/townhouses, commercial and industrial building as shown in Annex "A" hereof to be used in computing any internal revenue tax. In case the gross selling priceor the market value as 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. EacHCD This Order shall take effect immediately. (SGD.) ROBERTO F. DE OCAMPO Secretary of Finance RECOMMENDED BY: (SGD.) LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue
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