Republic of the Philippines DEPARTMENT OF FINANCE Manila

DEPARTMENT ORDER NO. $9 __4 February 04, 1994

SUBJECT:

IMPLEMENTATION OF THE ZONAL VALUES OF REAL PROPERTIES IN THE CITY OF OZAMIZ UNDER REVENUE DISTRICT OFFICE NO. 74 (GINGOOG CITY), REVENUE NO. 10-A (CAGAYAN DE ORO CITY) FOR REGION INTERNAL REVENUE TAX PURPOSES.

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All Internal. Revenue Officers and Others Concerned.

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Section 16(e) of the Tax Code as amended by Presidential Decree No. 1994; authorizes the Commissioner of Internal Revenue divide the Philippines into different zones or areas and to determine for internal revenue tar, purposes, the fair market of the real properties located in each zone or area upon value consultation with competent appraisers both from private and public sectors. virtue of said authority, the Commissioner of Internal By Revenue has determined the zonal values of real properties located in the City of Gingoog under the jurisdiction of Revenue District Office No. 74 (Gingoog City), Revenue Region No. 1£)-A (Cade Oro City) after public hearing was conducted on March gayan 19, 1993 for the purpose. This Order is issued to implement the zonal values for land and improvements in the case of condominicommercial and industrial buildings as shown in ums/townhouses, hereof to be used in computing any internal revenue "A" Annex 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.

RECOMMENDED BY:

LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue

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