Computation to Determine the Tax Base of Sales, Transfer or any Disposition of Real Property Including Improvements Thereon for Purposes of Computing Internal Revenue Taxes and Further Amendments to RAMO 3-87

February 4, 1988REVENUE AUDIT MEMORANDUM ORDER NO. 1-88SUBJECT:Computation to Determine the Tax Base of Sales, Transfer or any Disposition of Real Property Including Improvements Thereon for Purposes of Computing Internal Revenue Taxes and Further Amendments to RAMO 3-87    TO:All Internal Revenue Officers and Others Concerned  Although zonal values of real properties for purposes of computing internal revenue tax have already been established in certain places like Makati (East and West), Parañaque, Las Piñas, Muntinlupa; Pasig, Taguig, Pateros and Quezon City (North and South), said values had only reference to land. Improvements were not included therein, except in the case of condominiums/townhouses where both land and improvements have been taken into account. This Revenue Audit Memorandum Order presents the manner of computation of the tax base of sale, transfer or any disposition of real property including improvements thereon where the zonal value of land has not been established, and at the same time introduces amendments to RAMO 3-87, as follows: digestA. Determination of Tax Base of Sale, Transfer or Any Disposition of Real Property Including Improvements....