Clarification on the Date of Effectivity and Utilization of Resolutions Issued by the Technical Committee on Real Property Valuation

August 24, 2005 REVENUE MEMORANDUM CIRCULAR NO. 45-05 SUBJECT : Clarification on the Date of Effectivity and Utilization of Resolutions Issued by the Technical Committee on Real Property Valuation TO : All Internal Revenue Officers and Others Concerned For the information and guidance of the taxpayers, all internal revenue officers and others concerned, the following rules/policies shall be observed regarding resolutions issued by the Technical Committee on Real Property Valuation (TCRPV): 1. The effectivity of all resolutions issued by the TCRPV is good for only one year commencing on the date of its transmittal to the taxpayer; 2. All prior TCRPV resolutions without transmittal dates shall no longer have any force and effect; and 3. Each resolution shall be applicable only to the particular request and/or transaction subject of the resolution. All internal revenue officers and others concerned are requested to give this Circular as wide a publicity as possible. (SGD.) JOSE MARIO C. BUAG OIC-Commissioner of Internal Revenue