West questioned the presumption of Britain in the height of its own imperial endeavours, a 'bustling polychrome Victorian self that would assume, at a moment's notice and without the slightest reflection, the responsibility of determining the destiny of the most remote and alien people' (BLGF
He said placing the task of reviewing the SMVs of local governments on the BLGF
, which is under the DOF, will 'separate the technical function of real property valuation from the political function of taxation practiced by local elective officials.'
Meanwhile, the BLGF
and the Philippine Tax Academy (PTA), in coordination with the DILG, will conduct the training and technical assistance programs for LGU personnel to help them review and set regulatory fees and charges using the LFC toolkit.
Makati achieved 100 percent of the BLGF
's total locally-sourced income target for 2017 amounting to P14.25 billion, after its actual collections from local sources reached P14.26 billion in November of 2017.
In coordination with the DILG, the BLGF
and the Philippine Tax Academy (PTA) will conduct the training and provide technical assistance programs for LGU personnel to help them review and set reasonable regulatory fees and charges by using the LFC tool kit.
Under the circular, the DOF, through the BLGF
, will issue the guidelines through a Local Fees and Charges (LFC) Toolkit, which comprises the direct fixed cost and variable costs.
official also noted that LGUs tend to overlook the requirement under the Local Government Code to update their SMVs and zonal values every three years as there are no existing sanctions against local officials who do not comply with the law.
In a statement on Tuesday, the BOI teamed up with the Bureau of Local Government Finance (BLGF
) to extend assistance to BOI registered firms seeking local business tax (LBT) exemption and other investment-related concerns.
Under the proposed setup, the Bureau of Local Government Finance (BLGF
), through the Real Property Valuation Service (RPVS), shall lead and manage the implementation of the provisions of the proposed bill vested, among others, with the development, adoption and maintenance of valuation standards consistent with generally accepted valuation standards, regulations and specifications for real property appraisal used for tax and other purposes.
Under the LFC, the DOF-attached Bureau of Local Government Finance (BLGF
) is tasked to monitor the compliance by LGUs with the circular and provide technical assistance to aid them in following the guidelines.
FEF said amendments to the real property valuation system would also enable the Bureau of Local Government Finance (BLGF
) to implement uniform valuation standards in compliance with international best practices, with oversight by the Department of Finance (DOF).