The Bureau of Local Government Finance (BLGF) and the Department of Finance (DOF) engaged in the simultaneous briefings on the Proposed Real Property Valuation Reform under Package 3 of the Comprehensive Tax Reform Program (CTRP) on 18 October 2019 – National Economic Development Authority (NEDA) Sectoral Coordination Forum, Consultation Meeting with UNICEF Education Sector and Philippine Legislators’ Committee on Population and Development (PCLDP), and League of Provinces of the Philippines (LPP) 2nd General Assembly.
The DOF and BLGF contingent led by Directors Nina Asuncion and Ma. Pamela P. Quizon, and the Bureau of Internal Revenue (BIR), also had a briefing with Congressman Edcel Lagman on 21 October 2019 on the Proposed Real Property Valuation Reform in Quezon City.
The Proposed Real Property Valuation Reform aims to promote a just, equitable and efficient property valuation system in the country. The reform will broaden the tax base used for property and property-related taxes of both national and local governments to increase government revenues without devising new tax impositions or increasing current tax rates.