Will the BIR continue to set the BIR zonal values?
No. The BIR will no longer prepare the zonal values and will simply adopt the SMV approved by the Secretary of Finance. However, the BIR, together with the BLGF, will still review the proposed SMV of the local assessor.
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The Department of Finance (DOF) is the government’s steward of sound fiscal policy. It formulates revenue policies that will ensure funding of critical government programs that promote welfare among our people and accelerate economic growth and stability. Read More..