Implementation of the Zonal Values of Real Properties in the City of San Pablo Under Revenue District Office No. 37, Revenue Region 4C, San Pablo City, for Internal Revenue Tax Purposes.
DOF Department Order No. 046-89 • Department of Finance • DOF Orders • Sep 8, 1989
Full text
September 8, 1989 DOF DEPARTMENT ORDER NO. 046-89 ( Declared Superseded by D.O. 29-16) SUBJECT : Implementation of the Zonal Values of Real Properties in the City of San Pablo Under Revenue District Office No. 37, Revenue Region 4C, San Pablo 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. By virtue of said authority, the Commissioner of Internal Revenue has determined the zonal values of real properties located in the City of San Pablo under Revenue District No. 37, Revenue Region 4C, San Pablo City, after a public hearing was conducted on August 25, 1989 for the purpose. This Order is issued to implement zonal values for land as shown in Annex "A" hereof to be used in computing any internal revenue tax. caHCSD 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.) VICTOR C. MACALINGCAG Acting Secretary of Finance RECOMMENDED BY: (SGD.) JOSE U. ONG Commissioner of Internal Revenue
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