BIR Bataan implements revised zonal valuation

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BIR Bataan implements revised zonal valuation

BIR Bataan (RDO 20) is set to implement the revised zonal valuation of real properties in the province effective June 4.

Revenue District Officer Merlyn Vicente said the updated zonal valuation is for all real properties in the jurisdiction of BIR RDO 20. She added the updated zonal valuation was approved on May 8,2022 and subsequently published on May 20, 2022.

Assistant Revenue District Officer Melinda Cruz said to be affected by the updated zonal value are all properties in Balanga City and the 11 municipalities in the province.

Vicente said the updated zonal valuation in the province is covered by Department Order 22-2022.

She explained all the processes underwent stages like in the technical committee in the district, also approved in the technical committee under the Office of the Regional Director, and then forwarded to the executive committee.

She added BIR Commissioner Caesar Dulay approved and endorsed it to the Department of Finance, which was then approved by the Secretary. Vicente said the rule is that 15 days after publication, it can already be implemented, so the effectivity of the new updated zonal valuation is June 4, 2022.

She said the revision of the zonal valuation is the third in BIR Bataan. The second revision was done in July 2014, and normally the revision is done every three years.

She further explained the delay in the revision due to several reasons, one of which is the Covid 19 pandemic.

The zonal valuation is used in the computation of taxes for transfer of real properties (sale, donation, and inheritance) like the capital gains tax, donorā€™s tax, and estate tax.

BIR Bataan Admin and HR Officer Gemo Espinosa thanked Provincial Assessor Ricky Herrera, Asst. Provincial Assessor Jojo Pulido, city and municipal assessors in the province, and other stakeholders who helped in the updating of the zonal valuation in the province.

The post BIR Bataan implements revised zonal valuation appeared first on 1Bataan.

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