Clarification on valuation of real property improvements for tax purposes

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BIR REVENUE AUDIT MEMORANDUM ORDER NO. 1-2001: Clarification on valuation of real property improvements for tax purposes

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Title Source: Supreme Court: Clarification on valuation of real property improvements for tax purposes

Law: Bir Revenue Audit Memorandum Order No. 1-2001

Decision Date: Feb 15, 2001

The BIR Revenue Audit Memorandum Order No. 1-2001 clarifies the procedures for valuing improvements on real property for internal revenue tax purposes, establishing uniform guidelines to ensure that the valuation aligns with the fair market value as reflected in the latest tax declaration.

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