BIR Ruling No. 790-2019

REPURLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE

BUREAU OF INTERNAL REVENUE

Quezon City

Certificate of Tax Exemption No: 0790-2019

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

This certifies that PHINTECSTAR CONSTRUCTION, INC. (TIN:

an entity engaged by the National Housing Authority (NHA), is exempt from project-related

income taxes and creditable withholding tax, pursuant to Section 20 (d)(1) of Republic Act No.

7279, as amended by RA No. 10884 (Balanced Housing Development Program Amendments)

dated July 17, 2016, on its income received directly in connection with the

construction/development of socialized housing units under the NHA's Permanent Housing

Program for the victims of Magnitude 6.5 Earthquake in the Visayas to wit:

Notice of Date of Award Agreen'ent Contract Date of Contract Price (Php) Project Name Location No. of Socialized Housing Units subject of tax exemption

October 4, 2018 October 23, 2018 Residences Horizon Blue Hiluctogan, Kananga, Brgy. Leyte 21 12

The purchases of goods/articles by PHINTECSTAR CONSTRUCTION, INC. shall

be subject to V AT, even if the said purchases are to be used for the socialized housing project,

since VAT is an indirect tax which can be passed on by the seller of the goods/services.

Moreover, the Deeds of Absolute Sale/ Unilateral Sale Executed by the Landowners in

favor of the NHA over the parcel of land described below, to wit:

Date of Deeds November 8, of Absolute 2018 Sale Landowners Ayuyao, et al. Name of Porferio /Sellers of Title No. Certificate Transfer (Sq.m.) 191,851 Area Transferred (Sq. m.) 17,125 Area Hiluctogan, Location Kananga, Leyte Brgy.

I The original contract price ariounting to for additionalorks covered by Variation Order No. 1 issued by the National Housing Authority dated per Contract Agreement dated October 23, 2018 was adjusted to

October 31, 2018.

2 The number of units was increased from the original 176 house and lots units to 211 by the above-mentioned Variation

Order.

Phintecstar Construction, Inc./ Blue Horizon Residences Page 2 of 2 CTE No. Date issued DEC 1 3 2019 0790-2019

in so far as the area corresponding to the 211 housing units which shall be used for the above- mentioned socialized housing project, is not subject to capital gains tax and documentary stamp tax under Sections 19 and 20 of Republic Act (RA) No.7279.

It is, however, understood that this CTE is never intended, and shall not be construed. as giving authority to concerned Register of Deeds to effect transfer of the land titles in the

name of the buyer without the necessary Certificate Authorizing Registration (CAR) issued by this Bureau. In this regard, this CTE shall be presented to the Revenue District Office (RDO)

concerned in order for the latter to issue the CAR.

This Certificate of Tax Exemption is being issued on the basis of the facts and documents as represented and submitted. However, if upon investigation, the BIR ascertains that the facts are different, then this Certificate shall be considered null and void.

Issued this day of DEC 1 3 2019

aesoMy

CAESAR R. DULAY

Commissioner of Internal Revenue

K 031308 O

K-1-JAC