Implementation of the Revised Zonal Values of Real Properties in the Cities of Valencia and Malaybalay and All Municipalities (2nd Revision) within the Jurisdiction of Revenue District Office No. 99-Malaybalay City, Revenue Region No. 16-Cagayan De Oro City for Internal Revenue Tax Purposes

January 18, 2018DOF DEPARTMENT ORDER NO. 003-18SUBJECT:Implementation of the Revised Zonal Values of Real Properties in the Cities of Valencia and Malaybalay and All Municipalities (2nd Revision) within the Jurisdiction of Revenue District Office No. 99-Malaybalay City, Revenue Region No. 16-Cagayan De Oro City for Internal Revenue Tax Purposes   TO:All Internal Revenue Officers and Others Concerned Section 6 (E) of Republic Act No. 8424, otherwise known as the "Tax Reform Act of 1997," authorizes the Commissioner of Internal Revenue to divide the Philippines into different zones or areas and determine for internal revenue tax purposes, the fair market value of the real properties located in each zone or area upon consultation with competent appraisers both from private and public sectors. HTcADCBy virtue of said authority, the Commissioner of Internal Revenue has determined the zonal values of real properties in the Cities of Valencia and Malaybalay and all Municipalities (2nd revision), within the jurisdiction of Revenue District Office No. 99-Malaybalay City, Revenue Region No. 16-Cagayan de Oro City, after a public hearing was conducted on December...