BIR Ruling No. 553-2020

REPUBLiC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

IPPI

Certificate of Tax Exemption No. CM-0553-2020

CERTIFICATE OF TAX EXEMPTION

issued to

Pagasa Construction and Industrial Name of Seller Corporation TIN Zone III, Koronodal City 9506 Sprinter Bldg., Gensan Drive Address

-and-

Pag-asa Village Homeowners Assn., Inc. Name of Homeowners Association (HOA) Ph I TIN Pag-asa Village Phase I, Mabuhay. Gen. Santos City 9500 Address

November 19. 2018 over a parcel of land described below, to wit: This certifics that the Deed of.Absolute Sale entered by the Seller and the HOA dated

Transfer Certificate of Title No. (sq.m.) Area Transferred (sq.m.) Area of CMP (sq.m.) Gen. Santos City, Mindanao Purok Pag asa. Mabuhay Location

Republic Act (RA) No. 7279 or the Urban Development and Housing Act of 1992. The transaction is, however. subject to documentary stamp tax under Section 196 of the 1997 Tax Code, as amended. being a Community Mortgage Program (CMP)1, is not subject to capital gains tax pursuant to Section 32 (b) of

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

of the property transferred under the CMP are qualified beneficiaries and therefore, the seller is entitled to exemption from capital gains tax or income taximposed under Sections 24(D1 and/or 27(D5 of the 1997 Tax Code, as amended. The Bureau of Internal Revenue (BIR) shall conduct verification and post-audit that the actual occupants

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 submitted.

Issued this day of_SEP 2 32020

1asaw

Shall be proportionately distributed to the association's qualified member-beneficiaries (See Annex) Commissioner of Internal Revenue E CAESAR R.DULAY 036513 K