BIR Ruling No. 603-2017

REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTM'ENT O. FINANCE

Quezon City

Certificate of Tax Exemption No: S03-2017

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

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

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

November 3. 2016 February 2. 20 Boto People's Village Carles, Iloilo Brgy. Bolo. 500

is an indirect tax which can be passed on by the seller of the goods/services. It shall be VAT, even if the said purchases are to be used for the socialized housing project, since VA'l However. the purchases of goods/articles by E.M. CUERPO, INC. shall be subject to

receipts from the said socialized housing project. understood that E.M. CUERPO, INC. must issue VAT Exempt official receipts on its gross

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

Unilateral Sale Deeds of Sale/ December I. December I,. December I. Date of 2016 2016 2016 Divinagracia Landowner/ Rizal Arturo Rosemarie Demaisip Name of Sussette Deza [I] Seller Title (OCT) No. Certificate of Original (Sq. m.) 20.656 20.656 20.656 Area Transferred 20.656 20,656 20.656 Area Carles, Iloilo Carles, Iloilo Carles, Hloilo Brgy. Bolo. Brgy. Bolo. Brgy. Bolo, Location

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. 1279

Page 2 of 2 E.M. Cuerpo, Inc. Date issued 12-14-2017 CTE No. 603-2017

It is, however. understood that this CTE is never intended, and shall not be construed. 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 CT'E shall be presented to the Revenue District Office (RDO) concerned in order for the latter to issue the CAR.

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

Issued this. day of _DEC 14_2017

Commissioner of Internal Revenue CAESAR R. DULAY 011746 K -1-JAC