BIR Ruling No. 551-2020

REPUBLICOFTHE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

CMP-0551-2020 Certificate of Tax Exemption No.

CERTIFICATE OF TAX EXEMPTION

issued to

Pagasa Construction and Industrial Name of Seller Corporation TIN Zone III, Koronodal City 9506 Sprinter Bldg., Gensan Drive Address

tand-

Pag-asa Village Homeowners Assn:, Inc. Name of Homeowners Association (HOA) Ph 3 TI Pag-asa Village, Mabuhay, Gen. Santos City 9500 Address

November 19,2018 over a parcel of land deseribed below, to wit: This certifies that the Deed of: Absolute Sale entered by the Seller and the HOA dated

Transfer Certificate of Title (sq.m.) Area Transferred (sq.m.) Area of CMP (sq.m.) General Santos City. Mindanao Nupol, Mabuhay. Location

being a Community Mortgage Program (CMP)', is not subject to capital gains tax pursuant to Section 32 (b) of Republic Act (RA) No. 7279 or the Urban Development and Housing Act of 1992. The transaction is, however. subject to documentary stamp tax under Section 196 of the 1997 Tax Code, as amended.

the buyer without the necessary certificate of authority to register issued by this Bureau. In this regard. this Certificate 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 construed as giving authority to the concerned Register of Deeds to effect transfer of the land title in the name of requirements provided under Revenue Memorandum Order (RMO) No. 15-2003. It is, however, understood that this Certificate of Tax Exemption is never intended and shall not be

of the property transferred under the CMP are qualified beneficiaries and therefore, the seller is entitled to exemption from capital gains tax or income tax imposed under Sections 24(D1) and/or 27(D5of the 1997 Tax Code, as amended. The Bureau of Internal Revenue (BIR) shall conduct verification and post-audit that the actual occupants

However, if upon investigation. the BIR ascertains that the facts are different, then this Certificate shall be considered null and void. This Certificate is being issued on the basis of the facts and documents as represented and submitted.

Issued this day of_SEP 232020

Mesae

Shall be proportionately distributed to the association's qualified member-beneficiaries (See Annex) Commissioner of Internal Revenue CAESAR R.DULAY 036509