GUIDELINES ON THE AUCTION SALE (BIR)

Republic of the Philippines

Department of Finance

BUREAU OF INTERNAL REVENUE

Quezon City

Date______________ 

GUIDELINES ON THE AUCTION SALE

The following are the guidelines on the auction sale of the properties of  _________________________________for failure to pay his CY/FY 20__  ______________________________________tax liability in the amount of _____________________________________(P___________________) scheduled on ______________,20__ for the information and guidance of any or all prospective bidders, to wit:

1) Prospective bidders may see the detailed descriptions of the said properties, including the brief description of the improvements (in case of real property) thereon, at the Office of the Regional Director, Revenue Region No. _____, _________________________, where the bid forms and the manner and conduct of the Bidding and other particulars may be obtained during working days from 8:00 a.m. to 12:00 noon and 1:00 p.m. to 5:00 p.m.;

2) All bids shall be contained in a BID FORM supplied by the Auction Sale Committee, placed in sealed envelope and submitted on or before _________ of ____________, 20___to the Committee at the lobby of the City Hall of ___________.  IS THIS CORRECT? All bids prior to the date of auction sale may be submitted direct to the Office of the Regional Director, Revenue Region No. _____, _________________________;

3) The Auction Sale must be in an open public bidding; hence, all Bids shall be submitted to the Auction Sale Committee in a sealed envelope and shall be opened in public during the auction sale;

4) The auction sale of the parcels of land as published in _____________ shall be done parcel by parcel or title by title on the basis of "as is where is";

5) The minimum price or floor price for each property (parcel of land, in case of  real property)  will be indicated on the Bid Form.

6) Anyone, including the taxpayer, could bid except foreign nationals and corporations who are prohibited by the Philippine Constitution and our existing laws to own real estate properties in the Philippines.  All BIR employees and their relatives up to the third degree of consanguinity or affinity are also not allowed to bid. 

7) From the date of sale, a one-year redemption period is granted to the taxpayer and/or any of his/her authorized representative by paying the purchase price plus the 15% interest on the purchase price from the date of purchase up to the date of redemption. However, the sale of personal property is not subject to redemption.

8) In case there is no bidder or if the highest bid for the real properties is less than the minimum or floor price, the properties will be declared forfeited in favor of the government. 

9) The payment for the sale shall be in Cash and/or Manager's Check issued in the name of the Commissioner of Internal Revenue to the Authorized Agent Bank.

The Bureau of Internal Revenue, thru its Auction Sale Committee, reserves the right to reject any or all bids, waive any informalities or defects thereon and to accept such bids as may be most advantageous to the government.

COMMISIONER OF INTERNAL REVENUE       By:

___________________________

Regional Director/

Assistant Commissioner-

Large Taxpayer Service

(Signature over Printed Name)