BIR Ruling No. 37-2018

BUREAU OF INTERNAL REVENUE VErAKIMIEINI UT TUNANLE

Quezon City

Certificate of Tax Exemption No: 037-2018

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

National Housing Authority (NHA), is exempt from project-related income taxes, creditable of socialized housing units under the National Housing Authority (NHA)'s Yolanda Permanent INC./HERCAR BUILDERS, INC.-JV (TIN: withholding tax and value added tax (VAT), pursuant to Section 20 (d)(1) and (3) of Republic Act No. 7279, on its income received directly in connection with the construction/development Housing Program, to wit: This certifies that URBAN CONSOLIDATED CONSTRUCTORS PHILS., , an entity engaged by the

Notice of Date of Award Agreement Contract Date of Contract Price (Php) Project Name Location No. of Socialized Housing Units subject of tax

exemption

December 23, 2015 February 3, 2017 People's Village- Bacjawan Sur Site 2 Sur, Concepcion, Brgy. Bacjawan Iloilo

is an indirect tax which can be passed on by the seller of the goods/services. It shall be understood that URBAN CONSOLIDATED CONSTRUCTORS PHILS., INC./HERCAR CONSTRUCTORS PHILS.,INC./HERCAR BUILDERS,INC.-JV shall be subject to VAT, even if the said purchases are to be used for the socialized housing project, since VAT BUILDERS, INC.-JV must issue VAT Exempt official receipts on its gross receipts from the said socialized housing project. However, the purchases of goods/articles by URBAN CONSOLIDATED

favor of the NHA over the parcels of land described below, to wit: Moreover, the Deed of Absolute Sale/Unilateral Sale executed by the Landowners in

Unilateral Sale Deed of Sale/ Date of Landowners/ Name of Sellers Title (TCT) No. Certificate of Transfer (Sq. m.) Area Transferred Area Location

November 16, 2016 1. Ryan S. Zerrudo 2. Estelle Lois S. 3. Francis Clyde S. Zerrudo Zerrudo Concepcion, Bacjawan Brgy. Iloilo Sur

Hercar Builders, Inc.-JV Date issued 1-24-2018

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which shall be used for the above-mentioned socialized housing project, is not subject to capital gains tax and documentary stamp tax pursuant to Sections 19 and 20 of Republic Act (RA) No. 7279.

as giving authority to the concerned Register of Deeds to effect transfer of the land titles in the name of the buyer without the necessary Certificate Authorizing Registration (CAR) issued by this Bureau. In this regard, this CTE shall be presented to the Revenue District Office (RDO) concerned in order for the latter to issue the CAR. It is, however, understood that this CTE is never intended, and shall not be construed.

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 2 4 2018

1o0som1u

Commissioner of Internal Revenue CAESAR R. DULAY

K-1-JAC 012749