Creation of a Unit to Take Charge of the Enforcement of the Provisions of the Real Property Valuation Regulations Embodied in Department Order No. 88-70, Dated September 14, 1970

May 16, 1972 REVENUE MEMORANDUM ORDER NO. 17-72 SUBJECT : Creation of a Unit to Take Charge of the Enforcement of the Provisions of the Real Property Valuation Regulations Embodied in Department Order No. 88-70, Dated September 14, 1970 TO : All Internal Revenue officers, Employees and Others Concerned 1. In accordance with the provisions of Sec. 91 of the National Internal Revenue Code, as amended by Sec. 17 of Republic Act No. 6110, a Real Property Valuation Committee has been created in the Department of Finance. 2. To implement the said amendments to Section 91 of the National Internal Revenue Code, Department Order No. 88-70 dated September 14, 1970 was issued by the Department of Finance, among the provisions of which is Section 13 which is quoted hereunder: "SECTION 13. Implementing Office . For the purpose of further implementing the provisions of these regulations, the Commissioner of Internal Revenue shall constitute a unit in the Bureau of Internal Revenue which will take charge in the enforcement of the provisions of these regulations insofar as the Bureau of Internal Revenue is concerned. 3. Accordingly and until such time as a permanent unit is established in the National Office, the Transfer Tax Section of the Income Tax Division is hereby designated as the unit to take charge of the provisions of Department Order No. 88-70. 4. For this purpose, copies of the schedules of Real Property Valuation released by the Real Property Valuation Committee and transmitted to the Commissioner of Internal Revenue shall be furnished said section to serve as its guide in determining whether the values contained therein are being followed in the determination of values of estates and the corresponding tax liabilities due thereon. 5. To insure uniformity of action and to determine whether the provisions of this regulations (Department Order No. 88-70) are being followed, all divisions in the National Office conducting investigations of transfer taxes and regional offices shall forward all reports on transfer taxes (estate, inheritance, donor's and donee's tax), irrespective of the amount of tax due and the jurisdiction of the investigating unit, to the Transfer Tax Section of the Income Tax Division for review of the report. Until action has been taken by said unit, no report on transfer taxes should be finalized, accepted, approved or payment of tax due thereon be accepted. 6. The Transfer Tax Section upon receipt of the report shall immediately act on the case and return the docket to the unit concerned within fifteen(15) days from receipt thereof. 7. The provisions of this Revenue Memorandum Order are effective immediately and all those concerned are enjoined to follow strictly the provisions thereof. MISAEL P. VERA Commissioner of Internal Revenue