Revocation of Revenue Memorandum Order Nos. 24-2016 and 25-2016 Prescribing the Investigation of Parties in Transactions Involving the Transfer/Assignment/Sale of Properties
Revenue Memorandum Order No. 038-16 • Bureau of Internal Revenue (BIR) Issuances • Revenue Memorandum Orders • Jul 1, 2016
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July 1, 2016 REVENUE MEMORANDUM ORDER NO. 038-16 SUBJECT : Revocation of Revenue Memorandum Order Nos.24-2016 and 25-2016 Prescribing the Investigation ofParties in Transactions Involving the Transfer/Assignment/Sale of Properties TO : All Internal Revenue Officers and Others Concerned After careful evaluation of the guidelines and procedure relative to the investigation of parties in transactions involving the transfer/assignment/sale of properties, Revenue Memorandum Order Nos. 24-2016 and 25-2016 are hereby recalled pursuant to the power of the Commissioner under Sections 4 and 7 of the National Internal Revenue Code of 1997, as amended. All transactions affected by this Order shall be governed by pertinent rules existing prior to the issuance of RMO Nos. 24-2016 and 25-2016. This Order shall take effect immediately. (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue
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