Tag Archives: landowners

BIR hikes zonal values in key cities

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April 23, 2015
Manila Bulletin
Jun Ramirez

The Bureau of Internal Revenue (BIR) has increased the zonal value of real estate properties in selected areas in Metro Manila and elsewhere to hike and collect the right amount of capital gains tax (CGT) and documentary stamp tax (DST).

Finance Secretary Cesar Purisima approved the recommendation of BIR Commissioner Kim. S. Jacinto-Henares to adjust the value of properties to a more realistic level.

They included properties located in Quezon City, San Juan, Rizal province as well as those in certain areas in Mindanao.

BIR insiders described the adjustment as timely since the last zonal valuation update was made 10 to 15 years ago, especially those in the provinces.

Revenue regional officials together with local assessors, treasurers, independent appraisers as well as landowners and developers decide on how much the zonal value should be hike.

It takes years to come out with the new schedule because of opposition by land owners and developers who will be required to remit more taxes when they dispose these assets.

Records showed the BIR collected in 2013 more than P3 billion in CGT and DST which rates are 6 percent and 1.5 percent, respectively, based on the selling price of the property.

The Tax Reform Act authorizes the BIR commissioner to divide the country into different zones to determine the fair market value of real properties in each locality.

Three local govts prepare for land use, environmental impact of Misor airport

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BusineesWeek Mindanao
May 18, 2011

AS the completion of the Laguindingan Airport nears, the three contiguous municipalities Gitagum, Laguindingan, and Alubijid turn their attention on land use and environmental impacts of the project and related developments when the project will be in full operation.

In a subcommittee (of the special RDC-10 committee on LADP) meeting held May 11, chaired by Laguindingan Mayor Oliver Ubaub, officials and staff of the three municipalities discussed the need for a sanitary landfill for their common use, among other projects for priority implementation.

An initial meeting of the municipal engineers together with EMB, MGB, DENR, DOTC, Ayala Land Inc., and HANJIN was scheduled for May 25.

It was learned that the EMB had already identified a site in Talao, Gitagum to be the most appropriate for a sanitary landfill for this cluster of municipalities.

Negotiations with the landowners are ongoing.

Other programs to be given priority attention are watershed management to sustain adequate water supply, integrated coastal resource management to prevent destruction of marine resources, riverbank protection to preserve saltbeds and fishponds downstream, food security, quarantine services, and urban greening.

The body recognized the need for complementation and harmonization of sector and Comprehensive Land Use Plans of the three municipalities.

The Regional Development Council has created a special committee on LADP, chaired by Governor Oscar Moreno of Misamis Oriental, specifically to ensure the smooth operation of the Laguindingan international standard airport once this is completed in early 2012.
Other subcommittees are looking into the infrastructure (internal and external) and investment and promotions requirements of the project.