9-89 DATED. FEBRUARY 17, 1989 IMPLEMENTING THE REVISED ZONAL ... DEPARTMENT ORDER NO. 45.pdf. DEPARTMENT ORDER NO. 45.pd
REPUBLIC OF THE PHILIPPINES
DEPARTMENT OF FINANCE MANILA
DEPARTMENT ORDER NO. June 7, 1990
SUBJECT:
45-90
AMENDMENT TO DEPARTMENT ORDER NO. 9-89 DATED FEBRUARY 17, 1989 IMPLEMENTING THE REVISED ZONAL VALUES OF REAL PROPERTIES IN THE CITY OF PASAY FOR INTERNAL REVENUE TAX PURPOSES.
T 0: All Internal Revenue Officers and Others Concerned Section 16(e) of the Tax Code, as amended by Presidential Decree No. 1.994, 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. By virtue said authority, the Commissioner of of Internal Revenue has revised the zonal values of real properties located in the City of Pasay, under Revenue District No. 33, Revenue Region 4B2, Makati, Metro Manila. This Order is issued to implement revised zonal values for land as shown in Annex "A" hereof to be used in computing any internal revenue tax.
In case the gross selling price or the market value as shown in the schedule of values of the City Assessor is higher than the zonal value established herein, such values shall be used as basis for computing the internal revenue tax. This Order shall take effect immedia ly.
