Implementation of the Revised Schedules of Zonal Values of Real Properties in the Cities of Malabon and Navotas Within the Jurisdiction of Revenue District Office No. 26-Malabon/Navotas, under Revenue Region No. 5-Caloocan City, for Internal Revenue Tax

June 29, 2022 DOF DEPARTMENT ORDER NO. 046-2022 SUBJECT : Implementation of the Revised Schedules of Zonal Values of Real Properties in the Cities of Malabon and Navotas Within the Jurisdiction of Revenue District Office No. 26-Malabon/Navotas, under Revenue Region No. 5-Caloocan City, for Internal Revenue Tax TO : All Internal Revenue Officers and Others Concerned Section 4 of Republic Act 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, authorizes the Commissioner to divide the Philippines into different zones or areas and shall determine the fair market value of real properties located in each zone or area, subject to automatic adjustment once every three (3) years. By virtue of said authority, the Commissioner of Internal Revenue has determined the zonal values of real properties in the Cities of Malabon and Navotas (7th Revision) within the jurisdiction of Revenue District Office No. 26-Malabon/Navotas, after public hearing was conducted on October 14, 2021. This Order is issued to implement the Revised Schedule of Zonal Values of Real Properties for purposes of computing 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.) CARLOS G. DOMINGUEZ Secretary of Finance RECOMMENDED BY: (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue