Implementation of the Revised Schedule of Zonal Values of Real Properties in the Cities of Cagayan de Oro and El Salvador and Municipalities of Alubijid, Balingasag, Claveria, Gitagum, Initao, Jasaan, Laguindingan, Libertad, Lugait, Manticao, Naawan, Opol, Tagoloan and Villanueva within the Jurisdiction of Revenue District Office No. 98-Cagayan de Oro City, Misamis Oriental, for Internal Revenue Tax Purposes

January 29, 2019DOF DEPARTMENT ORDER NO. 008-19SUBJECT:Implementation of the Revised Schedule of Zonal Values of Real Properties in the Cities of Cagayan de Oro and El Salvador and Municipalities of Alubijid, Balingasag, Claveria, Gitagum, Initao, Jasaan, Laguindingan, Libertad, Lugait, Manticao, Naawan, Opol, Tagoloan and Villanueva within the Jurisdiction of Revenue District Office No. 98-Cagayan de Oro City, Misamis Oriental, for Internal Revenue Tax Purposes   TO:All Internal Revenue Officers and Others Concerned Section 4 of Republic Act 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. cHDAISBy virtue of said authority, the Commissioner of Internal Revenue has determined the zonal values of real properties in the Cities of Cagayan de Oro City (4th revision) and El Salvador (3rd revision) and in the municipalities...