Implementation of the Revised Schedules of Zonal Values of Real Properties in the City of General Santos (4th Revision); the Municipalities of Alabel, Glan, Kiamba, Maasim, Maitum, Malapatan and Malungon Located in the Province of Sarangani (3rd Revision), within the Jurisdiction of Revenue District Office No. 110-General Santos City, Revenue Region No. 18-Koronadal City, for Internal Revenue Tax

May 3, 2023 DOF DEPARTMENT ORDER NO. 027-2023 SUBJECT : Implementation of the Revised Schedules of Zonal Values of Real Properties in the City of General Santos (4th Revision); the Municipalities of Alabel, Glan, Kiamba, Maasim, Maitum, Malapatan and Malungon Located in the Province of Sarangani (3rd Revision), within the Jurisdiction of Revenue District Office No. 110-General Santos City, Revenue Region No. 18-Koronadal City, for Internal Revenue Tax TO : All Internal Revenue Officers and Others Concerned Under Section 4 of Republic Act No. 10963, otherwise known as the "Tax Reform for Acceleration and Inclusion (TRAIN)" Law, amending Section 6 (E) of National Internal Revenue Code (NIRC) of 1997, the Commissioner is hereby authorized to divide the Philippines into different zones or areas and shall determine the fair market value of real properties located in each zone or areas, subject to automatic adjustment once every three (3) years. ETHIDa By virtue of said authority, and after the conduct of public hearing on December 14, 2022, the Commissioner of Internal Revenue has determined the zonal values of real properties in the City of General Santos, South Cotabato (4th Revision) and in the municipalities of Alabel, Glan, Kiamba, Maasim, Maitum, Malapatan and Malungon, Province of Sarangani (3rd Revision), within the jurisdiction of Revenue District Office No. 110-General Santos City, South Cotabato, Revenue Region No. 18-Koronadal City. This Order is therefore issued to implement the revised schedules of zonal values of real properties for purposes of computation of any internal revenue tax due on sale/transfer or any other disposition of real properties. The zonal values established herein shall apply provided the same is higher than (1) the fair market value as shown in the schedule of values of the provincial or city assessor and (2) the gross selling price/consideration as shown in the duly notarized document of sale or transfer of real property. This Order shall take effect immediately. (SGD.) BENJAMIN E. DIOKNO Secretary of Finance RECOMMENDED BY: (SGD.) ROMEO D. LUMAGUI, JR. Commissioner of Internal Revenue