BIR Region 11-A sets zonal valuation hearing
The Bureau of Internal Revenue (BIR) Regional Office No. 11-A has set the holding of the zonal valuation hearing for Iloilo province and city on Feb. 19 at the NEDA Hall here in this city
BIR Regional Director Alert Alocilja said that the zonal valuation hearing will be held to implement revisions particularly on the current prices of real properties in Iloilo province and city.
Alocilja said that the last zonal valuation hearing was held in year 2000 and so there is now a need to implement some revisions on it particularly with the increasing prices of real properties now.
“The new zonal valuation is being needed during the sale, transfer, donation and expropriation of properties,” the BIR official said.
The new zonal valuation will serve as basis of the capital gain stock on real properties.
BIR has also conducted already similar zonal valuation hearing in Aklan province last December 2008, and after in the Antique, Capiz and Guimaras provinces.
The BIR official has invited interested parties like representatives of local government units to attend the hearing. (PNA)