Summary
RMO No. 31-2016 amends provisions of RMO No. 13-2014 on the public auction sale of absolutely forfeited and seized properties.
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Key points
- Who cannot bid. BIR employees and their relatives up to the fourth (4th) degree of consanguinity or affinity may not take part as bidders in the public auction of absolutely forfeited and seized BIR properties.
- Single bidder. If only one bidder joins the auction of a property, that bid may be accepted and the bidder officially declared the winner. This is subject to the prescribed minimum bid price and posting of the ten percent (10%) bond.
- Higher number of bidders. The Bids and Award Committee-Acquired Assets may still require a higher number of bidders if needed, through the written Guidelines of the Auction Sale.
Who is affected
- BIR employees and their relatives up to the 4th degree
- Bidders in BIR public auctions
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.