Implementation of the Revised Schedule of Zonal Values of Real Properties in the Cities of Talisay (2nd Revision), Naga (1st Revision), Carcar (1st Revision), and Toledo (1st Revision) and Municipalities of Minglanilla (2nd Revision) and San Fernando (2nd Revision), Province of Cebu, Within the Jurisdiction of Revenue District Office No. 83-Talisay City for Internal Revenue Tax Purposes

November 8, 2018 DOF DEPARTMENT ORDER NO. 063-18 SUBJECT : Implementation of the Revised Schedule of Zonal Values of Real Properties in the Cities of Talisay (2nd Revision), Naga (1st Revision), Carcar (1st Revision), and Toledo (1st Revision) and Municipalities of Minglanilla (2nd Revision) and San Fernando (2nd Revision), Province of Cebu, Within the Jurisdiction of Revenue District Office No. 83-Talisay City for Internal Revenue Tax Purposes 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 Talisay (2nd Revision), Naga (1st Revision), Carcar (1st Revision), and Toledo (1st Revision) and the Municipalities of Minglanilla (2nd Revision) and San Fernando (1st Revision), within the jurisdiction of Revenue District Office No. 83-Talisay City, Revenue Region No. 13-Cebu City, after public hearing was conducted on November 10, 2017 for the purpose. This Order is issued to implement was conducted on November 10, 2017 for the purpose. 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 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