Revised Zonal Values of Real Properties in Binondo Under Revenue District Office No. 30 (Binondo)

May 24, 1996 DOF DEPARTMENT ORDER NO. 075-96 ( Declared Superseded by D.O. 29-16) SUBJECT : Implementation of the Revised Zonal Values of Real Properties in Binondo Under Revenue District Office No. 30 (Binondo), Revenue Region No. 6 (Manila) for Internal Revenue Purposes TO : 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 both from private and public sectors. By virtue of said authority, the Commissioner of Internal Revenue has determined the zonal values of real properties located in Binondo under the jurisdiction of Revenue District Office No. 30 (Binondo), Revenue Region No. 6 (Manila) after a public hearing was conducted on December 16, 1995 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. ROBERTO F. DE OCAMPO Secretary of Finance RECOMMENDED BY: LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue