Implementation of the Revised Schedule of Zonal Values of Real Properties in Cebu City-North, Province of Cebu (4th Revision), Within the Jurisdiction of Revenue District Office No. 81-Cebu City North, for Internal Revenue Tax Purposes

November 8, 2018DOF DEPARTMENT ORDER NO. 064-18SUBJECT:Implementation of the Revised Schedule of Zonal Values of Real Properties in Cebu City-North, Province of Cebu (4th Revision), Within the Jurisdiction of Revenue District Office No. 81-Cebu City North, for Internal Revenue Tax Purposes   TO:All Internal Revenue Officers and Others Concerned Section 4 of Republic Act No. 10963, otherwise known as the Tax Reform for Acceleration and Inclusion (TRAIN) Law, amending Section 6 (E) of National Internal Revenue Code (NIRC) of 1997 authorizes the Commissioner to divide the Philippines into different zones or areas and shall determine the fair market value of real properties located in each zone or areas, subject to automatic adjustment once every three (3) years. By virtue of said authority, the Commissioner of Internal Revenue has determined the zonal values of real properties in Cebu City North, Province of Cebu (4th Revision), within the jurisdiction of Revenue District Office No. 81-Cebu City North, Revenue Region No. 13-Cebu City, after a public hearing was conducted on August 22, 2017 for the purpose. This Order is...