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Republic-of the Philippines DEPARTMENT OF FINANCE Manila DEPARTMENT ORDER NO. 10-92 January 09, 1992

SUBJECT:

AMENDING FURTHER MINISTRY ORDER NO. 20-S6, DATED SEPTEMBER 19B6, AS AMENDED BY DEPARTMENT ORDER NO. 12-S9, DATED FEBRUARY 27, 1989, CREATING THE TE:CHNIC::AL.. COMMITTEE ON REAL PROPERTY VALUATION TO ASSIST THE COMMISSIONER OF INTERNAL. REVENUE IN PRESCRIBING REAL PROPERTY VALUES FOR PURPOSES OF COMPUTING ANY INTERNAL REVENUE TAX.

Pursuant to Section 16(e) of the National Internal Revenue Code, amended, Ministry Order No. 20-86, as as amended by Department Order No. 12-89, is hereby amended further, as follows. Chairman

Atty. IMELDA L. REYES Assistant Commissioner (Assessment Service) Bureau of Internal Revenue

Members

Chief Assessment Performance Control Division Bureau of Internal Revenue

Chief, Real Property Assessment Examination Division Bureau of Local Government-Finance Chief, Direct Taxes Division National Tax Research Center Two (2) Representatives from Association of Private Real Estate Appraisers/Brokers/Developers Consultants

.

Chief, National Audit Review Division Chief, "ia.. Credit Review Division Chief, Legislative Ruling and Research Division Re p resentat

1.

Secretariat

. i ves

Housing Board

f r om::

Land Use Regulatory

2..

National. Mapping and Resource Informancticnn Agency

3.. 4.

National Housing Authority Land Registration Authority

Assessment Performance Control .. ilit vz =;ac'_n„ o Ser vice A ssessmen t Bureau of Internal Revenue

.....

page

The Technical Committee shall have the authority to create Sub-Technical Committees on Real Property Valuation (SI'CRPV) in Revenue District Offices which shall be . composes. o f the Revenue District Officer as Chairman arw andhe:_ the Provincial/City/Municipal Assessor and two (2) competent appraisers/brokers representing the private sector, as members.

Under the direct supervision of the Commissioner of Internal Revenue, the Committee shall study and pr- eFMarc the zonal schedules of fair market values on real properties to be used as basis in the computation of any internal revenue tax.. All provinciial, city and municipal assessors are hereby to directed render assistance to the Committee in the determination of the realistic valuation of real properties in their respective areas of jurisdiction. The Committee may likewise be authorized to avail of the services of any personnel of this Department and the bureaus and offices under it. The Chairman, Members and Secretariat of the Committee be entitled shall to honoraria and travelling expenses authorized under' existing laws, This Order takes effect

STAN I SL. of Finance

DEPARTMENT ORDER NO. 10 .pdf

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