BIR Ruling No. 398-2022

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Certificate of Tax Exemption No:

Boi-LeH- 3 3 8 - 2 0 2 2

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

the "Omnibus Investments Code of 1987" and Section 2.57.5 (B)(2) of Revenue Regulations (RR) No. housing project, Sonata, consisting of 824 house and lot units used solely for family home or dwelling purposes, located at Purok 5 Mabini, Brgy. Canocotan, Tagum City, Davao, a project duly registered with the Board of Investments (BOI) under Certificate of Registration No. : 2022, for a period of 4 years beginning from January 2023, or within three (3) years from the date of registration of the project with the BOI pursuant to Executive Order (EO) No. 226, otherwise known as 2-98, as amended. creditable withholding tax on its income received directly in connection with its economic and low-cost This certifies that STARLIGHT VENTURES, INC, is exempt from income tax and dated August 22,

P3,199,200.00' and below, is VAT-exempt under Section 109(1)(P) of the Nationai Internal Revenue Code (Tax Code) of 1997, as amended. The sale of lot only, regardless of the price, shall be subject to VAT pursuant to RA No. 10963. Moreover, the sale by the Company of house and lot and other residential dwellings valued at

applicable taxes under the Tax Code of 1997, as amended. the BOI, if any, including those units used for commercial purposes such as leasing, retail stores, offices. etc., is not covered by this Certificate of Tax Exemption and shall be subject to the payment of However, the sale of house and lot units in excess of the 824 house and lot units registered with

BIR rules and regulations and the Terms and Conditions stated at the back hereof. The Company is liable, however, for all other applicable taxes not discussed above. The grant of tax exemption herein is subject to the compliance with the provisions of applicable

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

Issued this day of SEP 2 3 2O2Z

Commissioner of Internal Revenue LILIA CATRIS GUILLERMO 001478 K-1-JAC

1 As adjusted using the 2010 Consumer Price Index values pursuant to RR No. 8-2021 dated June 11, 2021

Starlight Ventures, Inc. Page 2 of 2 CTE No. Bo1-LEH-3 9 3 - 2 0 2 2 Date issued SEP 2 3 2022

OF THE CERTIFICATE OF|TAX EXEMPTION TERMS AND CONDITIONS

The exemption from income tax and creditable withholding tax covers only income directly attributable to the revenues generated from the project, Sonata consisting of 824 house and lot units used solely for famjly home or dwelling purposes, located at Purok 5 Mabini, Brgy. Canocotan, Tagum City, Davao. Such exemption shall not cover revenues from units with selling price exceeding P2,000,000.00.

2. The enterprise shall comply with the following milestones and total investment capital:

Site Preparation and Development Building/House Construction Start of Commercial Operations Total Project Cost Milestone Investment Cost (in PhP) and Schedule December 2022 -- December 2025 January 2021 -- July 2022 PhP January 2023

3. In the computation of the project's ITH, the following shall apply:

a Only income generated from the sale of housing units (Sonata - Purok 5 mabini, Brgy. Canocotan, Tagum City, Davao) with selling price not exceeding

PhP2.0M and used solely for family home or dwelling purposes and not for commercial purposes such as leasing, retail stores,"offices, etc. shall be qualified. b. Interest income from in-house financing shall not be considered as revenues generated from the registered activity.

A The Company's entitlement to ITH for its BOI-registered housing project is subject to the compliance with the provisions of the Specific Terms and Conditiors of its BOI

Registration.

5 Pursuant to Section 4 of Republic Act (RA) No. 107082, the Company is required to file its tax returns and pay its tax liabilities, on or before the deadline as provided under the Tax Code of 1997, as amended, using the electronic system for filing and payment

of taxes of the BIR. It shall file with BOI a complete annual tax incentives report of its income-based tax incentives, VAT and duty exemptions, deductions, credits or exclusions from the tax base, as may be provided under EO 226, within the periods prescribed under RA No. 10708's Implementing Rules and Regulations and Joint Memorandum Circular No. 1-2016 dated September 1, 2016. 6. The Company shall be constituted as a withholding agent for the government if it acts as employer and any of its employees received compensation income subject to subject to the withholding taxes as source as required under Chapter XIII and Section compensation withholding tax, or if it makes payments to individuals or corporations 57 of the Tax Code of 1997, as amended and implemented by RR No. 2-98, as amended. 7. The Company is required to file on or before the 15th day of the fourth month following .the close of its accounting period of a Profit and Loss Statement and Balance Sheet with the Annual Information Return under oath, stating its gross income and expenses incurred during the taxable year.

8 Finally, the Company's books of accounts and other pertinent records shall be subject

to periodic examination by revenue enforcement officers of this Bureau for the purpose of ascertaining whether it is complying with the conditions under which it has been granted tax exemption or tax incentives and!its tax liability, if any, pursuant to Section 235 of the Tax Code of 1997, as amended.

2 An Act Enhancing Transparency in the Management and Accounting of T ves Administered by Investment Promotion Agencies.