BIR Ruling No. 332-2022

BUREAU OF INTERNAL REVENUE REPUBLICOF THE PHLIPPINES DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No:

PsH. 332-2022 CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN

San Francisco's I ousing Program for Calamity Victims located at Brgy. Esperanza. San Francisco. Cebu. Esperanza Peopl 's Village. a socialized housing project intended for the victims of typhoon Yolanda and impl mnted under the National Housing Auhority (NHAand Municipality of income taxes/cred table withholding tax(CWTpursuant te Section 20d of Republic Act RA No.7279.a; amended by RA No.10884(Balanced Housing Development Program Amendments datd July 17.2016. on its income receivd directly in connection with the development/procurement of 615 fully developed lots and completed housing units in Government of an FranciscoCamotes Island,Cebu, is exempt from project-related This certi ies that Kit Properties, Inc., an ertity engaged by the Municipal

does not exceed P3.199.200.00 per house and lot package; provided further, that beginning January 01.2021.he exemption froin VAT shall only apply to sale of house and lot and other residential dwellin s' valued at P3.199.200.00.2 shall be exempt fr m value-added tax (VAT pursuant to Section 109(1P) of the National Internal Revenue ( odeTax Codeof 1997.as amended.provided that the selling price thereof Moreover. he delivery of the said 615 fully developed lots and completed housing units

gross receipts fron the said socialized housing project. project. since VAT is an indirect tax which can be passed on by the seller of the goods/services. it shall be understc od that Kit Properties, Inc. must issue VAT-exempt official receipts on its VAT,even if the ai purchases are to be used for the above-mentioned socialized housing However. the purchases of goods/articles by Kit Properties, Inc. shall be subject to

Landowners and t! e Municipality cf San Francisco over the parcels of land described below. to vit: Furthermorthe Deed of Absolute Sale made and executed by and between the

February 17. 2022 Date Kit Pr peries. Inc. Lan fov ner/s Mme of Total Tax Declaration (TD) No/s. Transferred (sa. m. Brgy. Esperanza. San Francisco.Cebu Location

that one of the part es is the Government. of 1997. as amende 1. hased on the actual consideration of the property transferred considering income tax/capital ains tax/expanged withholding tax purst ant to Section 20 of RA No. 7279 and to VAT purst int to Section 109(1 (P) of the Tax Code of 1997, as amended.The transaction is.how ver. subject to documentary stamp tax under Section 196 of the Tax Code which shall be ust d for the above mentioned socialized aousing project. is not subject to

Sale of lot only.regardt ssf the price.shall be subject to VAT starting Janu ny 01.2021 pursuant to RA No.10963. As adjusted using the 2.10onsumer Price Index alues per Revenue Regultions (RRNo.8-2021 dated June I1.2021

G

(Esperanta People's illa ge) KIT PROPERTIES.NC CTE NO.: Dote issued: StE JUH 3 0 2022 -02

intended and sh ll not be construed as giving authoity to the concerned Register of necessary certific: te of authority to register issued by this Bureau. In this regard, this CTE shall be presented to th Revenue District Office (RDO concerned in order for the latter to issue the Certificate Author zing Registration (CAR.The CAR shall only be issued after submission of the complete requ rements provided under Revenue Memorandum Order(RMO) No.15-2003 Deeds/AssessorsOffice to effect transfer of the land titles in the name of the NHA without the It is. how vcr. understood that this Certificate f Tax Exemption (CTE is never

the same are to be apalied or are heing applied to a socialized housing project pursuant to RA the Register of De ds Assessors Office having jurisdiction over the properties, to the effect that No. 7279. Upon appl ca ion for exemption. a lien on the titles of the lands shall be annotated by

this Certificate sh Il he considered null and void. Submitted. Howe er. if upon investigation, the BIR ascertains that the facts are different. then This CTE s heing issued on the basis of the facts and documents as represented and

Issued this day of

rpuroMuepn

K- Comriissioner of Internal Revenue CAESAR R.DULAY 052187 O

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