Implementation of the Revised Schedules of Zonal Values of Real Property under the Jurisdiction of Revenue District Office No. 82-Cebu City-South (4th Revision) for Internal Revenue Tax Purposes

March 6, 2020DOF DEPARTMENT ORDER NO. 016-20SUBJECT : Implementation of the Revised Schedules of Zonal Values of Real Property under the Jurisdiction of Revenue District Office No. 82-Cebu City-South (4th Revision) 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 values of real properties under the jurisdiction of Revenue District Office No. 82, Cebu City-South, Revenue Region No. 13-Cebu City, after public hearing was conducted on March 7, 2019 for the purpose. This Order is issued to implement the Revised Schedule of Zonal Values of Real Properties for purposes of...