BIR Ruling No. 365-2018

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE Quezon City LIPE

Certificate of Tax Exemption No. 365-2018 : CERTIFICATE OF TAX EXEMPTION

issued to

Hermogenes P. Santiago Richard M. Santiago Leticia M. Santiago Name of Seller TIN 325 Katipunan Ave., Loyola Heights, Quezon City: I 2 1 45 Meichor St., Loyola Heights, Quezon City 45 Melchor St., Loyola Heights, Quezon City Address

-and-

2016 over a parcel of land described below, to wit; Name of Homeowners Association (HOA) Villa Reform HII Homeowners' Association, This certifies that the Deed of Absolute Sale entered by the Seller and the HOA dated May 04. Inc.. Phase 1 TIN Villa Reform III HOA, Phase I, Brgy. 167, Llano Rd., Caloocan City 1400 Address

transaction is, however, subject to documentary stamp tax under Section 196 of the 1997 Tax Code, being a Community Mortgage Program (CMP)', is not subject to capital gains tax pursuant to Section 32 (b) of Republic Act (RA) No. 7279 or the Urban Development and Housing Act of 1992. The as amended. Transfer Certificate of Title (sq.m.) Area Transferred sm Area of CMP (sq.m. Brgy. 167, Llano Rd., Caloocan Location City

concerned in order for the latter to issue the Certificate Authorizing Registration (CAR). The CAR shali not be construed as giving authority to the concerned Register of Deeds to effect transfer of the land Bureau. In this regard,. this Certificate shail be presented to the Revenue District Office (RDO) only be issued after the submission of the requirements provided under Revenue Memorandum Order (RMO) No. 15-2003. title in the name of the buyer without the necessary certificate of authority to register issued by this It is, however, understood that this Certificate of Tax Exemption is never intended and shal

occupants of the property transferred under the CMP are qualified beneficiaries and therefore, the seller is entitled to exemption from capital gains tax or income tax imposed under Sections 24 (D)(1) and/or 27 (D)(5) the National Internal Revenue Code of 1997, as amended. .The Bureau of Internal 'Revenue (BIR) shall conduict verification and post-audit that the actual AF

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

Issued this. day ofMAR t 8_2018

M 8

K-I-JAC Commissioner of Internal Revenue CAESAR R. DULAY 0141"4 9

' Shall be proportionately distributed to the association's qualified member-benficiaries (See Annex)