BIR Ruling No. 655-2017

BUREAU OF INTERNA L REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE Quezon City

Certificate of Tax Exemption No: 5201T

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

Brgy. San Vicente. Sta. Maria, Bulacan. a project duly registered with the Housing and Land that the ceiling price per house and lot package does not exceed P450.000.00 for house and lot and P180.000.00 for lots only. tax (CWT) and value-added tax (VAT) pursuant to Section 20 of Republic Act (RA) No. 7279 qualified beneficiaries in Margaret Homes Batch A & B, consisting of 895 units. located at Use Regulatory Board (HLURB) under Certificate of Registration No. Identification Number on its income received directly in connection with its sale of socialized housing units to Sell Nos. This certifies that BORLAND DEVELOPMENT CORPORATION, with Tax (Batch A -- 478 Lots/Units) and is exempt from income tax, creditable withholding (Batch B - 417 Lots/Units), provided and License to

higher. Likewise, lots/units classified as Economic Housing. not being covered by R.A. No. 7279, shall be subject to the payment of appropriate taxes. covered by the tax exemption clause in Scction 20 of RA No. 7279. Such being the case. the amended. based on the consideration contracted to be paid for such realties or on their fair markct value determined in accordance with Section 6 (E) of the same Code, whichever is owner/project developer/seller shall be liabie to pay the documentary stamp tax on the documents conveying the properties imposed under Section 196 of the Tax Code of 1997, as Nonetheless, it is observed that documentary stamp tax (DST) is not one of the taxes

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

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. This Certificate of Tax Exemption is being issued on the basis of the facts and

Issued this. day ofDEC 19 20!?

O c

K-I-JAC Commissioner of Internal Revenue CAESAR R. DULAY 0 119 35

Borland Development CorporationMargaret Homes Batch A & B Page 2 of 3 CTE No. Date issued 12-19-2012 655-2017

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

I The exemption from income. creditable withholding taxes and VAT covers only income directly attributable to the revenues generated from the 8951 socialized housing

units in Margaret Homes Batch A & B, located at Brgy. San Vicente, Sta Maria. Bulacan

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

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

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 f450,000.00 and P 180.000.00 for lot only.

4. List of Socialized Housing Units which are credited to its Main Project. Margaret

Homes Batch A & B, Iocated at Brgy. San Vicente, Sta. Maria, Bulacan, per HLURB License to Sell Nos. 032566 (Batch A - 478 Lots/Units) and 031887 (Batch B - 149 Lots/Units). granted by the HLURB, Region III, San Fernando City, Pampanga to wit:

Margaret Homes Batch A

Block No. 9 Lot Nos. 23-28 No. of Lots 6

I1 LO 12 13 14 15 Y 18 19 23 24 25 26 2-13. 16-18, 21-26, 29-33 3-19, 24-35, 40-51, 55 3-19, 24-39, 44-54, 56 3-19, 24-43, 48-69 3-20. 25-40, 45-65 44-S9, 64-85 29-48, 53-72 3-19, 24-41 3-19. 24-47 2-9,12-19 3-14, 19-24 2.3,4.7 5S-8 51-76 Total 478 S9 4 11 35 38 2 26 40 5S 45 18 4 42 2

i The maximum selling price is pegged at 450,000.00 based on HLURB License to Sell Nos and

Borland Devetopment Corporation/Margaret Homes Batch A & B Page 3 of 3 Date issued 12-19-2019 CTE No. 635-2017

Block No. 21 28 2 30 20 22 2 8 1 11 13 1 4 9 2 3 Ib 3-19. 24-31. 36, 43, 44, 47,48, 49 3,"5, 7, 9, 11, 13, 15, 17. 21-25 Margaret Homes Batch B 3-1 8, 23-34, 39-54, 59-68 2-7, 10-17, 20-27, 30-35 2, 3, 6-11, 14-19, 22-25 3-18, 23-28, 30 5-10. 13-16 3-19, 24-39 3-22, 27-50 3-22, 27-46 2-7, 10, 11 2-9, 12-18 Lots Nos. 3-24. 26 3-14, 16 3-24 Total 3-14 6-17 3-14 2-6 3 No. of lots 417 23 13 22 28 54 31 33 44 40 1'S 23 10 13 I 2 1 2 12 5