Revised Zonal Values of Real Properties in the Municipalities of Bay and Calauan, Laguna

May 21, 2003 DOF DEPARTMENT ORDER NO. 045-03 ( Declared Superseded by D.O. 29-16) SUBJECT : Implementation of the Revised Zonal Values of Real Properties in the Municipalities of Bay and Calauan, Laguna under the Jurisdiction of Revenue District Office No. 56 (Calamba, Laguna), Revenue Region No. 9 (San Pablo City) for Internal Revenue Tax Purposes TO : All Internal Revenue Officers and Others Concerned Section 6(e) of Republic Act No. 8424, otherwise known as the " Tax Reform Act of 1997 ", 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 both from private and public sectors. cHDEaC By virtue of said authority, the Commissioner of Internal Revenue has determined the zonal values of real properties ( 2nd Revision ) located in the Municipalities of Bay and Calauan, Laguna under the jurisdiction of Revenue District Office No. 56 (Calamba, Laguna), Revenue Region No. 9 (San Pablo City) after public hearing was conducted on January 31, 2003 for the purpose. This Order is issued to implement the revised zonal values for land 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 value established herein, such values shall be used as basis for computing the internal revenue tax. This Order shall take effect immediately. (SGD.) JOSE ISIDRO N. CAMACHO Secretary of Finance RECOMMENDED BY: (SGD.) GUILLERMO L. PARAYNO, JR. Commissioner of Internal Revenue