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:
- Philippine Association of Realty Appraisers (PARA);
- Institute of Philippine Real Estate Appraisers, Inc. (IPREA);
- Philippine Association of Realtor Board, Inc. (PAREB);
- Chamber of Real Estate Builders Association, Inc. (CREBA);
- Philippine Council of Real Estate Educators, Inc. (PHILCORE); and
- Other associations recognized by the Realty Service Council of the Philippines (RESCOP) as the consultative body of the Department of Trade and Industry (DTI).
_________________________________________________________________