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PIA Press Release
2008/11/19

BIR emphasizes need to revise zonal values; sets public hearing in Aklan

Kalibo, Aklan (19 November) -- There is a need to revise the zonal values of real properties in Aklan's 17 towns.

This need was emphasized by Bureau of Internal Revenue (BIR) OIC Revenue District Officer Nelia Demalata, who said the existing zonal values have already become unrealistic considering that the market value of real properties has already increased.

The zonal values of real property is one of the determining factors in the computation of capital gains tax and transfer taxes in the BIR district office, according to Demalata.

Because of this, the BIR here is set to conduct a public hearing to revise the zonal values of properties in the province. The public hearing will be held on December 4, 2008 at the ACP Centerpoint in Kalibo.

To support the district in this public hearing, officials from the national and regional offices of the BIR will be coming. Invited to attend the hearing, according to Demalata, are Governor Marquez, municipal mayors, the provincial assessor, municipal assessors, barangay captains, realtors, real estate developers and the general public. (BIR/PIA) [top]

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