Circularizing the Full Text of Department Order No. 35-04

January 4, 2005 REVENUE MEMORANDUM CIRCULAR NO. 03-05 SUBJECT : Circularizing the Full Text of Department Order No. 35-04 Amending Further Ministry Order Nos. 20-86 and 21-86 as Amended by Department Order Nos. 12-89, 13-89, 10-92 and 11-92 Creating the Committees on Real Property Valuation to Determine the Zonal Values of Real Properties for Purposes of Computing Any Internal Revenue Tax TO : All Internal Revenue Officers, Employees and Others Concerned For the information and guidance of all internal revenue officer, employees and others concerned, attached is the full text of Department Order No. 35-04 AMENDING FURTHER MINISTRY ORDER NOS. 20-86 AND 21-86 AS AMENDED BY DEPARTMENT ORDER NOS. 12-89, 13-89, 10-92 and 11-92 CREATING THE COMMITTEES ON REAL PROPERTY VALUATION TO DETERMINE THE ZONAL VALUES OF REAL PROPERTIES FOR PURPOSES OF COMPUTING ANY INTERNAL REVENUE TAX. All revenue officials and employees are enjoined to give this circular as wide a publicity as possible. CaTcSA (SGD.) GUILLERMO L. PARAYNO, JR. Commissioner of Internal Revenue DEPARTMENT ORDER NO. 35-04 September 24, 2004 SUBJECT : AMENDING FURTHER MINISTRY ORDER NOS. 20-86 AND 21-86 AS AMENDED BY DEPARTMENT ORDER NOS. 12-89, 13-89, 10-92 and 11-92 CREATING THE COMMITTEES ON REAL PROPERTY VALUATION TO DETERMINE THE ZONAL VALUES OF REAL PROPERTIES FOR PURPOSES OF COMPUTING ANY INTERNAL REVENUE TAX Pursuant to Section 6 (E) of Republic Act No. 8424, otherwise known as the "Tax Reform Act of 1997", Ministry Order Nos. 20-86 and 21-86 as amended by Department Order Nos. 12-89, 13-89 10-92 and 11-92, are hereby amended as follows: 1. Executive Committee on Real Property Valuation (ECRPV) shall be composed of the following: Chairman Commissioner Bureau of Internal Revenue Members Deputy Commissioner of Internal Revenue Operations Group Assistant Commissioner of Internal Revenue Assessment Service Executive Director Bureau of Local Government Finance Executive Director National Tax Research Center Two (2) licensed and competent appraisers from a reputable association/organization of realty appraisers Consultants Commissioner Housing and Land Use Regulatory Board Administrator National Mapping and Resource Information Authority Administrator Land Registration Authority General Manager National Housing Authority Secretariat Asset Valuation Division 2. Technical Committee on Real Property Valuation (TCRPV) shall be composed of the following: Chairman Assistant Commissioner of Internal Revenue Assessment Service Members Representative Bureau of Local Government Finance Representative National Tax Research Center Two (2) licensed and competent appraisers from a reputable association/organization of realty appraisers Consultants Assistant Commissioner Legal Service Representatives from: Housing and Land Use Regulatory Board National Mapping and Resource Information Agency National Housing Authority Land Registration Authority Secretariat Asset Valuation Division 3. Sub-Technical Committee on Real Property Valuation (STCRPV) shall be composed: of the following: Chairman Revenue District Officer (RDO) Members City/Municipal/Provincial Assessor Local Development Officer (Office of the Mayor) Two (2) licensed and competent appraisers from a reputable association/organization of realty appraisers Functions of the Committees: A. The Executive Committee on Real Property Valuation (ECRPV) shall: 1. Study, analyze and approve the proposed Schedule of Zonal Values of real properties prepared by the Sub-Technical Committee on Real Property Valuation as reviewed by the TCRPV. B. The Technical Committee on Real Property Valuation (TCRPV) shall: 1. Study and review the proposed Schedule of Zonal Values of real properties prepared by the Sub-Technical Committee on Real Property Valuation. 2. Deliberate and resolve appealed cases involving approved zonal values and controversies as to the valuation issues in the Regional and District Offices. 3. Assign zonal values of properties not listed/included in the approved schedule of Zonal values. C. The Sub-Technical Committee on Real Property Valuation (STCRPV) shall 1. Study, prepare and conduct the public hearing on the proposed Schedule of Zonal Values of real properties under the jurisdiction of the Revenue District Office. All provincial, city and municipal assessors are hereby directed to render assistance to the above Committees in the determination of the realistic valuation of real properties in their respective areas of jurisdiction. The above Committees may likewise be authorized to avail of the services of any personnel of this Department and the bureaus and offices under it. The Chairmen, Members and Secretariat of the above Committees shall be entitled to honoraria and traveling expenses authorized under existing laws. The provisions of Department Order Nos. 10-92, 11-92, 12-89, 13-89 and Ministry Order Nos. 20-86 and 21-86 are hereby repealed, modified or amended accordingly. This Order takes effect immediately. (SGD.) JUANITA D. AMATONG Secretary of Finance