Declaration of True Property Value for Taxation

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PRESIDENTIAL DECREE NO. 76: Declaration of True Property Value for Taxation

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Title Source: Supreme Court: Declaration of True Property Value for Taxation

Law: Presidential Decree No. 76

Decision Date: Dec 6, 1972

Presidential Decree No. 76 requires property owners in the Philippines to declare the true value of their properties to prevent tax evasion and ensure fair compensation, with non-compliance or false declarations resulting in penalties. The law also establishes guidelines for property assessment and allows for appeals, with the Secretary of Finance responsible for implementing rules and regulations.

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