_________________________________________________
.

BIR issues guidelines for designation of private appraisers



BIR issues guidelines for designation of 
private appraisers

The BIR has issued the policies and guidelines in the recruitment and designation of private appraiser members to the Regional Executive and Technical Committees on real property valuation.

Under Revenue Memorandum Order No. 40-2010, dated April 23, 2010, the BIR issued the procedures and guidelines on the involvement of private real estate appraisers to the Regional and Technical Committee which also prescribes the responsibilities of the Committee Chairmen to secure a list of  realty service organizations such as, but not limited to, the following:
  1. Philippine Association of Realty Appraisers (PARA);
  2. Institute of Philippine Real Estate Appraisers, Inc. (IPREA);
  3. Philippine Association of Realtor Board, Inc. (PAREB);
  4. Chamber of Real Estate Builders Association, Inc. (CREBA);
  5. Philippine Council of Real Estate Educators, Inc. (PHILCORE); and
  6. Other associations recognized by the Realty Service Council of the Philippines (RESCOP) as the consultative body of the Department of Trade and Industry (DTI).


_________________________________________________________________
KNOWING YOUR BIR REGULATIONS AND ISSUANCES

Revenue Regulations (RRs)
are issuances signed by the Secretary of Finance, upon recommendation of the Commissioner of Internal Revenue, that specify, prescribe or define rules and regulations for the effective enforcement of the provisions of the National Internal Revenue Code (NIRC) and related statutes

Revenue Memorandum Orders (RMOs) are issuances that provide directives or instructions; prescribe guidelines; and outline processes, operations, activities, workflows, methods and procedures necessary in the implementation of stated policies, goals, objectives, plans and programs of the Bureau in all areas of operations, except auditing.

Revenue Memorandum Rulings (RMRs) are rulings, opinions and interpretations of the Commissioner of Internal Revenue with respect to the provisions of the Tax Code and other tax laws, as applied to a specific set of facts, with or without established precedents, and which the Commissioner may issue from time to time for the purpose of providing taxpayers guidance on the tax consequences in specific situations. BIR Rulings, therefore, cannot contravene duly issued RMRs; otherwise, the Rulings are null and void ab initio

Revenue Memorandum Circular (RMCs) are issuances that publish pertinent and applicable portions, as well as amplifications, of laws, rules, regulations and precedents issued by the BIR and other agencies/offices.

Revenue Bulletins (RB) refer to periodic issuances, notices and official announcements of the Commissioner of Internal Revenue that consolidate the Bureau of Internal Revenue's position on certain specific issues of law or administration in relation to the provisions of the Tax Code, relevant tax laws and other issuances for the guidance of the public.

BIR Rulings are official position of the Bureau to queries raised by taxpayers and other stakeholders relative to clarification and interpretation of tax laws.
real estate central philippines
Copyright ©2008-2020