Republic of the Philippines DEPARTMENT OF FINANCE Manila

DEPARTMENT ORDER NO. L^LA7 JUNE 5, 1997

SUBJECT:

IMPLEMENTATION OF THE REVISED ZONAL VALUES OF REAL PROPERTIES IN MMAI£ATI CITY UNDER REVENUE DISTRICT OFFICE NO. 47 (EAST MAICATI), REVENUE REGION NO. 8 (MAIAATI CITY) FOR INTERNAL REVENUE TAX PURPOSES.

T 0 : All Internal Revenue Officers and Others Concerned.

Section 16 (e) of the Tax Code as amended by Presidential Decree No. 1994, authorizes the Commissioner of Internal Revenue to divide the Philippines into different zones or areas and determine for internal revenue tax purposes, the fair market value of the real properties located in each zone or area upon consultation with competent appraisers both from private and public sectors. By virtue of said authority, the Commissioner of Internal Revenue has determined the zonal values of real properties (4t revision) located in Makati City under the jurisdiction of Revenue District Office No, 47 (East Makati), Revenue Region No, 8 (Makati City) after public hearing was conducted on January 15, 1997 for the purpose. This Order is issued to implement the revised zonal values for land to be used in computing any internal revenue tax. In case the gross selling price or the market value as shown in the schedule of values of the provincial or city assessor is higher than the zonal value established herein, such values shall be used as basis for computing the internal revenue tax. This Order shall take effect immediately.

ROBERTO F. DE OC Secretary of Finance RECOMMENDED BY: LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue fbp9

PHILIPPINES

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DEPARTMENT ORDER NO. 65 .pdf

DEPARTMENT OF FINANCE. Manila ... areas and determine for internal revenue tax purposes, the fair market value of the real. properties ... Secretary of Finance ... DEPARTMENT ORDER NO. 65 .pdf. DEPARTMENT ORDER NO. 65 .pdf.

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