Zonal Valuation of Real Properties for Internal Revenue Tax Purposes

May 19, 1986 REVENUE MEMORANDUM ORDER NO. 10-86 SUBJECT : Zonal Valuation of Real Properties for Internal Revenue Tax Purposes TO : Asst. Commissioner Eufracio D. Santos, All Revenue District Officers and Others Concerned Further to the memorandum of this Office dated April 24, 1986 bearing on the zonal valuation of real properties, pursuant to Section 16(e) of the National Internal Revenue Code, as amended by P.D. 1994, the following additional guidelines are hereby issued: casia 1. The duly accomplished "Valuation Forms" shall be submitted to the Office of Asst. Commissioner Eufracio D. Santos; 2. Utilization of the schedule of values submitted by Revenue District Officers shall be subject to approval by the Commissioner of Internal Revenue; cd 3. From time to time, Asst. Commissioner Santos shall submit to the Commissioner, for approval, schedule of values so far completed; 4. Asst. Commissioner Santos shall furnish the following offices with duly approved schedule of values: (a) The Revenue District Officer concerned; (b) The Real Estate & Transfer Taxes Division; (c) The Sector Audit Review Division; and (d) The National Audit Review Division. 5. During the transitory period, the valuation rule prescribed in Revenue Audit Memorandum Order No. 3-86, dated March 19, 1986 (i.e., market value per latest tax declaration plus ten percent (10%) thereof) shall be strictly observed. acd This Order takes effect immediately. (SGD.) BIENVENIDO A. TAN, JR. Commissioner