Implementation of the Revised Schedules of Zonal Values of Real Properties in the Cities of Laoag (5th Revision) and Batac (4th Revision) and the Municipalities of Adams, Bacarra, Badoc, Bangi, Banna, Burgos, Carasi, Currimao, Dingras, Dumalneg, Marcos, Nueva Era, Pagudpud, Paoay, Pasuquin, Piddig, Pinili, San Nicolas, Sarrat, Solsona and Vintar (4th Revision) All within the Jurisdiction of RDO No. 1-Laoag City, Ilocos Norte, Revenue Region No. 1-Calasiao, Pangasinan, for Internal Revenue Tax Purposes

August 18, 2023 DOF DEPARTMENT ORDER NO. 047-2023 SUBJECT : Implementation of the Revised Schedules of Zonal Values of Real Properties in the Cities of Laoag (5th Revision) and Batac (4th Revision) and the Municipalities of Adams, Bacarra, Badoc, Bangi, Banna, Burgos, Carasi, Currimao, Dingras, Dumalneg, Marcos, Nueva Era, Pagudpud, Paoay, Pasuquin, Piddig, Pinili, San Nicolas, Sarrat, Solsona and Vintar (4th Revision) All within the Jurisdiction of Revenue District Office No. 1-Laoag City, Ilocos Norte, Revenue Region No. 1-Calasiao, Pangasinan, for Internal Revenue Tax Purposes 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 area, subject to automatic adjustment once every three (3) years. ATICcS By virtue of said authority and after conduct of posting and publication in lieu of public hearing on October 13, 2022 until December 8, 2022, the Commissioner of Internal Revenue has determined the zonal real of real properties in the Cities of Laoag (5th Revision) and Batac (4th Revision) and the municipalities of Adams, Bacarra, Badoc, Bangi, Banna, Burgos, Carasi, Currimao, Dingras, Dumalneg, Marcos, Nueva Era, Pagudpud, Paoay, Pasuquin, Piddig, Pinili, San Nicolas, Sarrat, Solsona and Vintar (4th Revision) all within the jurisdiction of Revenue District Office No. 1-Laoag City, Ilocos Norte, Revenue Region No. 1-Calasiao, Pangasinan. 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