Taxable Area.
Section 4
SEC. 4. Taxable Area.—(a) For a given tax year, the taxable area of timber and forest lands belonging to the Republic of the Philippines the beneficial use of which has been granted to a taxable person shall be the operational area within the concession as determined and authorized for the tax year by the Bureau of Forest Development in accordance with the provisions of Presidential Decree No. 705, otherwise known as the Revised Forestry Code of the Philippines, and/or its implementing rules and regulations. For purposes of this Decree, the term operational area shall refer to the portion of portions of the entire concession from where the concessionaire is granted the authority to cut and remove timber for a given year. (b) In the case of privately-owned timber or forest lands, the entire area belonging to the private owner shall be the taxable area.