BIR Ruling No. 302-2021

REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No: NH-302-2021

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

price of not more than P3,199,200.00. from VAT shall only apply to sale of house and lot and other residential dwellingst with selling added tax (VAT) pursuant to Section 109 (1)(P) of the National Internal Revenue Code of 1997 (Tax Code), as amended, provided that the selling price thereof does not exceed P3, 199,200.003 per house and lot package; provided further, that beginning January 01, 2021, the exemption amended by RA No. 10884 (Balanced Housing Development Program Amendments) dated Kananga, Leyte, intended for the families displaced by the Magnitude 6.5 Earthquake in the Visayas. Moreover, the delivery of 211 socialized housing units shall be exempt from value- of 2112 socialized housing units in Blue Horizon Residences tocated at Brgy. Hiluctogan. 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 (RA) No. 7279, as July 17, 2016, on its income received directly in connection with the construction/development This certifies that PHINTECSTAR CONSTRUCTION, INC., an entity engaged by

be understood that PHINTECSTAR CONSTRUCTION, INC. must issue VAT Exempt official receipts on its gross receipts from the said socialized housing project. be subject to VAT, 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. It shall The purchases of goods/articles by PHINTECSTAR CONSTRUCTION, INC. shalI

favor of the NHA over the parcel of land described below, to wit: Moreover, the Deeds of Absolute Sale/ Unilateral Sale Executed by the Landowners in

November 8. Date of Deed of Absolute 2018 Sale Forferio Ayuyao, Jr. Fe Franco Paul Matriano Grace Ayuyao Landowners Name of ISellers$ of Title No. Certificate Transfer 191,851 (Sq.m.) Area Transferred (Sq. m.) 17, 25 Area Location

on behalf of the co-landowners for the sale of the property identified and described in TCT No. 5 Special Power of Attorney dated September 22, 2010, was granted to Grace Ayuyao to execute the Deed of Absolute Sale 3 As adjusted in 2011 using the 2010 Consumer Price Index values per Revenue Regulation No. 8-2021. 4 Sale of lot only, regardless of the price, shalf be subject to VAT starting January 01, 2021 pursuant to RA No. 10963. 2 The number of units was increased from the original 176 house and Iot units to 211 per Variation Order No.1 issued by the 1 Per Contract Agreement dated October 23, 2018. NHA dated October 31, 2018.

Piintecstar Construction, Inc./ Blue Horizon Residences Page 2 of 2 CTE No. NG - 3 0 2 - 2 0 2 1 Date issued AUG 1 0 2021

July 17,2016,and to VAT pursuant to Section 1091P of the Tax Code, as amended. 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 RA No. 7279, as amended by RA No. 10884 (Balanced Housing Development Program Amendments) dated

the documentary requirements provided under RMO No. 15-2003, shall be presented to the Revenue District Office (RDO) concerned in order for the latter to issue the CAR. effect transfer of the land titles in the name of the NHA without the necessary Certificate intended, and shall not be construed, as giving authority to concerned Register of Deeds to Authorizing Registration (CAR) issued by this Bureau. In this regard, this CTE, together with It is; however, understood that this Certificate of Tax Exemption (CTE is never

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

Issued this day of AUG 1 0 2021

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K-1-JAC Commissioner of Internal Revenue CAESAR R.DULAY H 044578