BIR Ruling No. 65-2020

REPUBLICOF THE PHILIPPINES

DEPARTMENT OF FINANCE

BUREAU OF INTERNAL REVENUE

Quezon City

Certificate of Tax Exemption No

PSH009-2020

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN

Taxpayers Identification Number (TIN This certifies that MCGREGOR DEVELOPMENT CORPORATIONI with is exempt from income tax and

in Windsor Homes, consisting of 74 socialized house and lot units, located at Brgy. Mabuhay. Gen. Santos City, a project duly registered with the Housing and Land Use Regulatory Board (HLURB) under Certificate of Registration No. provided that the selling price of said units does not exceed P450,000.002 per house and lot. (RA) 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 its sale of socialized house and lot units for residential and dwelling purposes to qualified beneficiaries creditable withholding tax (CWT) pursuant to Section 20 (d (l of Republic Act and License to Sell No.

below, or house and lot and other residential dwellings valued at P3, 199,200.00 and below, is exempt from value-added tax (VAT) pursuant to Section 109 (1) (P) of the National Internal exemption from VAT shall only apply to sale of house and lot and other residential dwellings3 with selling price of not more than P2,000,000.00. Revenue Code of 1997, as amended. Provided, however, that beginning January 01, 2021, the Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and

being covered by RA No. 7279, shall be subject to the payment of appropriate taxes. the same Code, whichever is higher. Likewise, lots/units classified as Economic Housing, not covered by the tax exemption clause in Section 20 of RA No. 7279. Thus, the documents conveying the properties shall be subject to DST imposed under Section 196 of the National Internal Revenue Code of 1997, as amended, based on the consideration contracted to be paid for such realties or on their fair market value determined in accordance with Section 6 (E) of It is observed, however, that documentary stamp tax (DST) is not one of the taxes

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

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. This Certificate of Tax Exemption is being issued on the basis of the facts and

Issued this day of JAN 1 0 2020

02a

K-I-LMAT Commissioner of Internal Revenue CAESAR R.DULAY 031957

Sale of lot only, regardless of the price. hall be subject toVAT starting January O1.2021 pursuant to RA No.10963. Per HLURB License to Sell No.032710 dated April 10.2017. Doing business under the name andstyle of Stonewood HotelWindsor HeightTBoli Hotel and Restaurantand Windsor Homes

MCGREGOR DEVELOPMENT CORPORATION (Windsor Homes) CTE No. Date issued JAN 20 PS 030

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

1.The exemption from income, creditable withholding taxes and VAT covers only income directly attributable to the revenues generated from the 74 socialized house and lot units in Windsor Homes located at Brgy. Mabuhay, Gen. Santos City.

2 The developer shall submit the sworn statement of the buyer that he is eligible as a socialized housing beneficiary under Section 5 (A) of Revenue Regulations (RR) No. 11-97 to the BIR during Socialized housing unit. the processing of the Certificate Authorizing Registration (CAR) for the transfer of the title of the

3.It is understood that the Certificate Authorizing Registration (CAR) shall only be issued after it is the socialized house and lot packages in this case does not really exceed P450,000.00. established upon proper verification by the Revenue District Officer (RDO) concerned that. considering the rules on valuation of real property, the actual selling price per sale transaction of

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