Implementation of the Revised Schedules of Zonal Values of Real Properties in the Cities of Bogo and Danao and the Municipalities of Asturias, Balamban, Bantayan, Borbon, Carmen, Catmon, Compostela, Consolacion, Daanbantayan, Madridejos, Medellin, Pilar, Poro, San Francisco, San Remegio, Sogod, Sta. Fe, Tabogon, Tabuelan, Tuburan and Tudela (2nd Revision), and Liloan (3rd Revision) within the Jurisdiction of Revenue District Office No. 80-Mandaue City, Cebu, Revenue Region No. 13-Cebu City for Internal Revenue Tax Purposes

June 11, 2020DOF DEPARTMENT ORDER NO. 020-20SUBJECT : Implementation of the Revised Schedules of Zonal Values of Real Properties in the Cities of Bogo and Danao and the Municipalities of Asturias, Balamban, Bantayan, Borbon, Carmen, Catmon, Compostela, Consolacion, Daanbantayan, Madridejos, Medellin, Pilar, Poro, San Francisco, San Remegio, Sogod, Sta. Fe, Tabogon, Tabuelan, Tuburan and Tudela (2nd Revision), and Liloan (3rd Revision) within the Jurisdiction of Revenue District Office No. 80-Mandaue City, Cebu, Revenue Region No. 13-Cebu City 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. By virtue of said authority, the Commissioner of Internal Revenue has determined the zonal value of real...