Computation

Supporting Documents
Cash in Bank (bank secrecy law)- bank confirmation/cut off bank statement

The investigator should ask the Head of the Agency to send a letter to all bankers of the person
being investigated to directly confirm the balances. The request for confirmation should also cover
dormant accounts as well as accounts closed during the year. Where a large number of checks has been
issued/ deposited in the last few days of the year, and a sizeable proportion of such checks has
subsequently remained unpaid/ uncleared, this may indicate an intension of understating creditors/
debtors or understating/ overstating bank balances. In such a case, it may be appropriate for the
investigator to obtain confirmations from the parties concerned, especially in respect of checks involving
large amounts. The investigator should also examine whether a reversal of the relevant entries could be
appropriate under the circumstances.

Jewelries observation
Inventory researches of business industry
Land, Building and House

Assessors Office

PROFILE
Sec. 200 of RA 7160 of the Local Govt Code of 1991 specifies that the provinces and cities, including municipalities
within the Metropolitan Manila Area, shall be primarily responsible for the proper, efficient and effective administration
of real property tax.
The Assessors Office ensures proper execution of all laws and assessments of real properties for taxation purposes.
On this premise, the above provision restates the principle of valuation that all real property, whether taxable or exempt,
shall be appraised at the current and fair market value prevailing in the locality where the property is located. It is an
integrated technical and administrative process based upon the value of the property, designed to raise revenue for
the government.
By establishing a systematic method of real property assessment, the department follows a sequential process that
proceeds logically from tax mapping phase, through property valuation and tax determination phases, to the final tax
collection phase which is the responsibility of the Treasurers Office.
Tax Mapping Phase includes discovering of real property parcels and identifying its ownership
Property Valuation all real property shall be valued on the basis of the schedule of fair market values prepared
for the province, city or municipality in pursuance of Sec 15 of PD 464 (now Sec. 212 of RA No. 7160).
Tax Collection Phase being the major income generating tool of the city, it is the offices responsibility to maintain
permanent records and files for the purpose of continued accountability for all separate property ownership and
establish ownership records through tax declarations that reflect increase or decrease in tax assessments, thus,
allowing the Treasurers Office to objectively collect all the real property taxes and penalties due and payable to the
government through the positive and total enforcement of the tax laws and the penal provisions.
In line with His Honors 11-point agenda, the department is determined to fully utilize its full potential in addressing the
needs of the constituents by providing the best quality service they truly deserve. To cope with the current technological
trends, setting up of computer peripherals in our district offices is in the offing, linking it with the Real Property Tax
Administration program. This will enable the taxpayers to inquire about the real properties in their areas, thus bringing
the City Hall closer and more accessible to the people.

FUNCTION

The role of the Assessor's Office is to estimate property values. We do not collect
taxes. But, by law, we must discover all taxable property in the County and appraise
its value, then calculate 35% of that appraised value to determine its assessed
value.
Original Certificate of Title- is a state or municipal-issued document that identifies the owner or owners
of personal or real property. This provides documentary evidence of the right of ownership. When issued
for real property such as land or a house by a title insurance company, the certificate of title is a statement
of opinion on the status of the title, based on a thorough examination of specified public records.

Transfer Certificate of Title- refers to the property title of a land, or a land with a built property in it (eg.
House and lot). This details the property location, plus the size of the land, the registration number and
the owner. It also details the previous TCTs that were cancelled due to the transfer of ownership.

Deed of Sale- is a legal binding document proving that both buyer and seller reached an agreement of
sale or purchase of an immovable property.

A real estate purchase will not be complete without the deed of absolute sale. This legal
form transfers property to one party including property rights. The deed serves as a
proof that the transfer occurred. Once you have signed the documents, it means you
have fully understood that all rights to the property will be transferred from the seller to
the buyer.

It is also important to note that the deed of absolute sale should have no stipulated
conditions attached other than the buyer's payment.

You need to have an independent surveyor or judge that will determine the property's
current market value to prevent over-paying. You will also have to make sure that the
document is legally binding and should vividly describe the property that will be
transferred. A sample of deed of absolute sale is provided below:

DEED OF ABSOLUTE SALE

KNOW ALL MEN BY THESE PRESENTS:

This DEED OF ABSOLUTE SALE is made, executed and entered into by:

(NAME OF SELLER), of legal age, single/married to (Name of spouse if any),

Filipino, and with residence and postal address at (Address of Seller), hereinafter
referred to as the SELLER

-AND-

(NAME OF BUYER), Filipino and with residence and postal address at (Address of
Buyer), hereinafter referred to as the BUYER.

WITNESSETH;
 WHEREAS, the SELLER is the registered owner of a parcel of land with
improvements located at (Address of property to be sold) and covered by Transfer
Certificate of Title No. (TCT Number) containing a total area of (Land Area of Property
in Words) (000) SQUARE METERS, more or less, and more particularly described as
follows:

TRANSFER CERTIFICATE OF TITLE NO. 0000

"(Insert the technical description of the property on the title) Example: A PARCEL
OF LAND (Lot 20 Blk 54 of consolidation subdivision plan (LRC) Pcs-13265, being a
portion of the consolidation of Lots 4751-A and 4751-B (LRC) Psd-50533, Lot 3, Psd-
100703, Lot 1, Psd-150980, LRC Rec. Nos. Nos. N-27024, 51768, 89632, N-11782, N-
13466, and 21071 situated in the Bo. of San Donisio, Mun of Paranaque, Prov of Rizal,
Is. of Luzon. Bounded on NE., point 4 to 1 by Road Lot 22, on...to the point of
beginning; containing an area of (280) square meters more or less..."

WHEREAS, the BUYER has offered to buy and the SELLER has agreed to sell the
above mentioned property for the amount of (Amount in words) (P 000,000.00)
Philippine Currency;

NOW THEREFORE, for and in consideration of the sum of (Amount in words) (P

000,000.00) Philippine Currency, hand paid by the vendee to the vendor, the SELLER
DO HEREBY SELL, TRANSFER, and CONVEY by way of Absolute Sale unto the said
BUYER, his heirs and assigns, the certain parcel of land together with all the
improvements found thereon, free from all liens and encumbrances of whatever nature
including real estate taxes as of the date of this sale.

(NAME OF SELLER) (NAME OF BUYER)

Seller Buyer

WITH MARITAL CONSENT:

________________________ _________________________

Name of Seller's Spouse Name of Buyer's Spouse

SIGNED IN THE PRESENCE OF:

__________________________ ____________________________
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

_____________________________ ) SS.

BEFORE ME, a Notary Public for and in the City of ___________________, personally
appeared:

Name CTC Number Date/Place Issued

(Name of Seller) 10000000 Jan 15, 20__ / Angeles City

(Name of Buyer) 10000000 Jan 9, 20__ / Manila

Known to me and to me known to be the same persons who executed the foregoing
instrument and acknowledged to me that the same are their free act and voluntary
deed.

This instrument, consisting of (__) pages, including the page on which this
acknowledgment is written, has been signed on the left margin of each and every page
thereof by the concerned parties and their witnesses, and sealed with my notarial seal.

WITNESS MY HAND AND SEAL on this ___day of __________________20__

at_______________.

Notary Public

Doc. No. ........;

Page No. .......;

Book No. .......;

Series of 20__.
Tax Declaration- is a tax that owners of real property need to pay every year so that the local government
unit will not auction off their property.

Vehicle

Certificate of Registration- is the most important document and is a mandate for new as well as pre-
owned documents. This document has all the vital information about the vehicle and the owner and which
is verified by the dealer. This certificate is provided by the Department of Transportation and
Communications, Republic of Manila and it is advised to crosscheck the certificate with the said office
while purchasing a pre-owned car to confirm the authenticity. A vehicle registration certificate has vehicle
engine and chassis number which should be essentially matched with the actual vehicle. If the car is too
old or the engine has been changed due to an accident or any other reason, the same should be there in
the new registration certificate.

Official Receipt- are hard copies of financial transactions used by businesses for tax and accounting
purposes. These documents include the vendors name, vehicle sold, purchase price, the date, receipt
number and other pertinent information.

Deed of Sale- is a legal binding document proving that both buyer and seller reached an agreement of
sale or purchase of a vehicle.

Equipment

Certificate of Ownership- a document issued to evidence ownership of a given equipment and to evidence
the associated undertakings of the issuer.

Official Receipt- are hard copies of financial transactions used by businesses for tax and accounting
purposes. These documents include the vendors name, equipment sold, purchase price, the date, receipt
number and other pertinent information.

Deed of Sale- is a legal binding document proving that both buyer and seller reached an agreement of
sale or purchase of an equipment.

Loans and Mortgage

Personal and Family Expenses