BIR Ruling No. 633-2017

REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE Quezon City

Certificate of Tax Exemption No:

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

to Sell No. creditable withho!ding tax (CWT) and` value-added tax (VAT) pursuant to Section 20 of Land Use Regulatory Board (HLURB) under Certificate of Registration No. DEVELOPMENT CORPORATION (TIN: Republic Act (RA) No. 7279 on its income received directly in connection with its sale of Socialized lots to qualified beneficiaries in Easter Mansion II. consisting of 159 lots. located at Brgy. Malabanban Sur, Candelaria, Quezon, a project duly registered with the Housing and This certifies that SR. STO NINO DE CEBU RESOURCES AND provided, however, that the selling price per lot shall not exceed y, is exempt from income tax. and License

owner/project developer/seller shall be liable to pay the documentary stamp tax on the documents conveying the properties imposed under Section 196 of the Tax Code of 1997, as amended, based on the consideration contracted to bc paid for such realties or on their fair market value determined in accordance with Section 6 (E) of the same Code. whichever is covered by the tax exemption clause in Section 20 of RA No. 7279. Such bcing the case, the higher. Nonetheless, it is observed 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 all 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 ofnEC19 2017

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Commissioner of Internal Revenue CAESAR R. DULAY Y 011948

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Sr. Sto Nino de Cebu Resources and Development Corp. Page 2 of 2 Date issued_12-19-2017 CTE No 633-20 7

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

i. The exemption from income, creditable withholding taxes and VAT covers only income directly attributable to the revenues generated from the 159' socialized lots in Easter Mansion HI located at Brgy. Malabanban Sur, Candelaria, Quezon. 2. The deveioper shall submit the sworn statement of the buyer that he is eligible as a sociatized housing beneficiary under Section 5 (A) of Revenue Regulations (RR) No. 11-97 to the BIR title of the socialized housing unit. during the processing of the Certificate Authorizing Registration (CAR) for the transfer of the

3. It is understood that the Certificate Authorizing Registration (CAR) shall only be issued after it is established upon proper verification by the Revenue District Officer (RDO) concerned that. of a socialized iot does not exceed P180,000.00. considering the rules on valuation of reat property, the actual selling price per sale transaction

4 Based on HLRUB License to Selt No. in compliance to Section 18 of RA 7279, to wit: , the following lots are credited to other projects

St. Michael Village Batch I Indigo Bay II Batch 2 Crekside (sic) Park II Project Name Corinthian South IV Residenza de Alaminos Location Brgy. San Lucas. San Pablo City, Laguna| Brgy. Poblacion II, Alaminos, Laguna Brgy. Kalsadang Bago, Calamba City. Brgy. Maraouy, Lipa City Brgy. Sto. Angel. San Pablo City, Laguna 6 24 8 16 No. of Lots

Miracle Heights III-Batch II Acropolis South I Brgy. Kayumanggi, Lipa City, Batangas Brgy. San Agustin, Alaminos, Laguna Laguna 14 18

1 The maximum selling price is pegged at P180,000.00 based on HLURB License to Sell No