BIR Ruling No. 383-2022

REPUBLIC OF THE 'PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Certificate of Tax Exemption No:

PSHt 3 8 3 - 2 0 2 2

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

creditable withholding tax (CWT)` pursuant to Section 20 (d) (1) of Republic Act (RA) No. Taxpayer Identification Number (TIN) dated July 17, 2016, on its income received directly in connection with its sale of socialized 7279, as amended by RA No. 10884 (Balanced Housing Development Program Amendments) This certifies that SUMMERHILLS HOME DEVELOPMENT CORP. with , is exempt from income tax and

house and lot units for residential and dwelling purposes to qualified beneficiaries in Sunnyvale 2, consisting of 2,825 house and lot units, located at Brgy. Nambalan/Pugo-Cecilio, Sta. Ignacia, Tarlac, a project duly registered with the Department'of Human Settlements and

selling price of said units does not exceed P580,000.00 per house and lot.1 Urban Development (DHSUD) under Provisional Certificate of Registration No. and Provisional License to Sell No. : both dated May i2, 2022, provided that the

below, or house and lot and other residential dwellings valued at P3, 199,200.00 and below, is Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and

residential dwellings2 with selling price of not more than P3,199,200.00.3 exempt from value-added tax (VAT) pursuant to Section 109 (1) (P) of the National Internal 01, 2021, the exemption from VAT shall only apply to'sale of house and lot and other Revenue Code (Tax Code) of 1997, as amended. Provided, however, that beginning January

It is observed, however, that documentary stamp tax (DST) is not one of the taxes covered 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 National Internal Revenue Code of 1997, as amended, based on the consideration contracted to be paid for such realties or on their fair market value determined in accordance with Section 6 (E) of the same Code, whichever is higher. Likewise, lots/units classified as Economic Housing, not being covered by RA No. 7279, shall be subject to the payment of appropriate taxes.

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

documents as represented and submitted. However, if upon investigation, the BIR ascertains This Certificate of Tax Exemption is being issued on the basis of the facts and

that the facts are different, then this Certificate shall be considered null and void.

Issued this day of SEP g 8 2022

Al C 27

K-1-MDT Commissioner of Internal Revenue LILIA CATRIS GUILLERMO 001274

2 Sale of lot oniy, regardless of the price, shall be subject to VAT starting January 01, 2021 pursuant to RA No. 10963. 3 As adjusted using the 2010 Consumer Price Index values per Revenue R No. 8-2021 dated June 11. 2021. 1 Per DHSUD Provisional License No. 2022-05-363 dated May 12. 2022

(Sunnyvale 2; SUMMERHILLS HOME DEVELOPMENT CORP Date issued: CTE No.: PSH SE P. 0:8_.2022 3 8 3 - 2 02 2

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

I. The exemption from income tax and creditable withholding tax covers only income directly attributable to the revenues generated from the 2,825 house and lot units, located at Brgy. Nambalan/Pugo-Cecilio, Sta. Ignacia, Tarlac. 2. The developer shall submit the sworn statement of the buyer that he is eligible as a socialized housing processing :of the Certificate Authorizing Registration (CAR) for the transfer of the title of the sociatized housing unit. beneficiary: under Section 5 (A) of Revenue Regulations (RR) No. 1i-97 to the BIR during the

3. It is understood that the Certificate Authorizing Registration (CAR) shall only be issued after it is established: upon proper verification 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 socialized house and lot packages in this case does not really exceed P580,000.00 per house and lot.

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