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RMC No. 45-2005: Clarifies the date of effectivity and utilization of resolutions issued by the Technical Committee on Real Property Valuation

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Summary

RMC No. 45-2005 clarifies the effectivity and use of resolutions issued by the Technical Committee on Real Property Valuation (TCRPV).

Key points

  1. One-year validity. A TCRPV resolution is effective for only one year starting from the date it was transmitted to the taxpayer.
  2. Resolutions without transmittal dates. Prior resolutions without transmittal dates no longer have force and effect.
  3. Limited application. Each resolution applies only to the particular request or transaction it covers.

Who is affected

  • Taxpayers with TCRPV resolutions

Deadlines and effectivity

  • Resolution valid one year from transmittal date

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.