BIR Ruling No. 425-2022

1AH BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE

Certificate of Tax Exemption No: PSH-42 NOV 11 2022 25-2022

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN

both dated September 07, 2022, provided that the selling price of said house and lot units does not exceed P580,000.00' per house and lot packages. Section 20 (d(1) of Republic Act (RA) No.7279,as amended by RA No.10884(Balanced directly in connection with sale of socialized house and iot units for residential and dwelling the Department of Human Settlements and Urban Development DHSUD) under Provisional Certificate of Registration No. 202: 00 Housing Development Program Amendments) dated July 17, 2016, on its income received purposes to qualified beneficiaries in Pasinaya Homes Phase 4,consisting of 1,543 house and lot units located at Brgys. Bulac & Catmon, Sta. Maria, Bulacan, a project duly registered with Thiscertifies that RAEMULAN LANDS, INC., with Taxpayer Identification Number -000, is exempt from income tax and creditable withholding tax (CWT) pursuant to and Provisional License to Sell No.202:

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 Revenue Code Tax Code of 1997,as amended.Provided,however,that beginning January 01,2021,the exemption from VAT shall only apply to sale of house and lot and other residential dwellings with selling price of not more than P3,199,200.003. Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and below

RAEMULAN LANDS, INC. over the parcels of land described below, to wit: Furthermore, the Deeds of Absolute Sale executed by the Landowners in favor of

Dec.3,2021 Dec.3,2021 Dec. 3, 2021 Date Narciso M.Balamiento married to Romeo M. Balamiento married to Josie Balamiento Mario M. Balamiento married to Gladys Reynaldo M. Balamiento married to Jannett M. Balamiento Maria Eloida Balamiento C.Balamiento Rhoda Balamiento Name of Landowners Transfer Certificate of Title TCT)/Original Certificate T- I -04 of TitleOCTNos T-040 (sq. m.) 18,952 12,609 Area 1,151 Transferred (sq. m.) 12,609 18,952 1,151 Sta. Maria Bulacan Sta. Maria Sta. Maria Bulacan Bulacan Location

May 10,2021 Remedios B. Young. Teodoro B. Carandang Melencia E. Bartolome, Teresita B. Carandang married to OCT-No. F 10,848 10,848 Bulacan Sta. Maria.

Sale of lot only, regardless of the price,shall be subject to VAT starting January 01, 2021 pursuant to RA No. 10963 Already in the name of Raemulan Lands, Inc. under TCT No. 040- As adjusted using the 2010 Consumer Price Index values pursuant to Revenue Regulation (RRNo.8-2021 dated June 11, 2021 Already in the name of Raemulan Lands, Inc. under TCT No. 040- 5 Already in the name of Raemulan Lands, Inc. under TCT No. 040- 7 Already in the name of Raemulan Lands, Inc. under TCT No. 040-2 1 The maximt n selling price is pegged at P580,000.00 per house & lot based on DHSUD Provisional License to Sell No.

RAEMULAN LANDS, INC Page 2 of 3 CTE No.PSH-4 2 5- 2 0 2 Z Date issued NOV 11 2022

Enrique E. Bartolome. Jezebel E. Bartolome

June 25, 2021 Jose S. Buenaventura, Jr. T- 40,69 40,469 Sta. Maria, Bulacan

2021 March 10. Sps. Alfredo M. De Vera and Leonida F.De Vera T-04 9,420 9,420 Sta. Maria. Bulacan

Total 93,449

to Section 1091)P) of the Tax Code of 1997, as amended. gains tax (CGT) pursuant to Section 20 (d) (2) of RA No. 7279, as amended, and to VAT pursuant which shall be used for the abovementioned socialized housing project are not subject to capital

amended, based on the consideration contracted to be paid for such realties or on their fair market Likewise, lots/units classified as Economic Housing, not being covered by RA No. 7279, shall 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 Tax Code of i997, as value determined in accordance with Section 6 (E of the same Code, whichever is higher. be subject to the payment of appropriate taxes. It is observed, however, that documentary stamp tax (DST) is not one of the taxes covered

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

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 documents

Issued this day of

K-1-MDT Commissioner of Internal Revenue LILIA CATRIS GUILLERMO 002404

Already in the name of Raemulan Lands, Inc. under TCT No. Already in the name of Raemulan Lands, Inc. under TCT No.

RAEMULAN LANDS, INC. Page 3 of 3 Date issued. CTE No.PSH-4 25 -2gZ 2 NOV 1 1 2022

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

The exemption from income and creditable withholding taxes covers only income directly attributable to the revenues generated from the project,Pasinaya Homes Phase 4 consisting of 1,543 house and lot units, located at Brgys. Bulac & Catmon, Sta. Maria, Bulacan.Such exemption shall cover revenues from 1,543 house and lot units with selling price not exceeding P580,000.00 per house and lot packages.

2 The developer shall submit the sworn statement of the buyer that he is eligible as a socialized

housing beneficiary provided under Section 5 (A) of Revenue Regulation (RR) No. 11-97 to the Bureau of Internal Revenue (BIR) during the processing of the Certificate Authorizing Registration (CAR) for the transfer of the socialized housing unit.

3. It is understood that the CAR shall only be issued after it is established upon proper verification does not really exceed P580,000.00. by the Revenue District Officer (RDO concerned that, considering the rules on valuation of real property, the actual selling price per sale transaction of the house and lot packages in this case