BIR Ruling No. 264-2017

REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE BUREAUOF INTERNAL REVENUE

Certificate of Tax Exemption No. 2642017

CERTIFICATE OF TAX EXEMPTION

issued to

Name of Seller TIN Address

Bangko Sentral ng Pilipinas Mabini cor. P. Ocampo Sr. Sts., Malate, Manila Bangko Sentral ng Pilipinas Complex, A

-and-

The Quezon City Government Name of Buyer TIN Quezon City Hall, Quczon city. Metro Manila Address

This certifies that the Deed of Absolute Sale entered by the Seller and the buyer dated March 18, 2016 over the parcel of land described below, to wit;

Certificate of Title Transfer Area(sq.m.) 10,000 Transferred (sq.m.) 10,000 Consideration (PhP) Area 6,Luzon Avenue, Brgy Old Balara, Quezon City Location

which shall be used in a socialized housing project' for the benefit of 250, more or less, on site informal settler families2, is exempt from the payment of capital gains tax or the withholding tax and value-added tax pursuant to Section 20 (d)(2) of Republic Act (RA) No. 7279 and Section 109 (1) (P) of the Tax Code of 1997, as amended. The transaction is, however, subject to documentary stamp tax under Section 196 of the same Code, based on the actual consideration of the property transferred, considering that one of the contracting parties is the Government.

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 title in the name of the buyer without the necessary certificate of authority to register 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 Certificate Authorizing Registration (CAR). The CAR shall only be issued after the submission of the requirements provided under Revenue Memorandum Order (RMO) No. 15-2003

QC Council Resolution No. SP-6052, S-2014, authorizing the City Mayor to acquire, thru negotiation, the land to be developed into a socialized housing project 2 See Arinex list of potential beneficiaries

#264-2017 5-29-2017

Page 2 of 2 BSP_QC

Upon application for exemption, a lien on the title of the land shall be annotated by the Register of Deeds having jurisdiction over the property, to the effect that the same is to be applied or is being applied to a socialized housing project pursuant to RA 7279.

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 ofMAY292017

1&0nn

K-1-JRC Commissioner of Internal Revenue CAESAR R. DULAY 006772