BIR Ruling No. 370-2022

REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Certificate of Tax Exemption No: fSH= 3 7 0 :2 0 2 2 AUG 2 2 2022

CERTIFCATE OF TAX EXEMPTON

TO ALL WHOM IT MAY CONCERN:

not exceed P3,199,200.002 per house and lot package; provided further, that beginning January 01, 2021, the exemption from VAT shall only apply to sale of house and lot and other Municipal Government of Abulug, Cagayan', is exempt from project-related income taxes as amended by RA No. 10884 (Balanced Housing Development Program Amendments) dated July 17, 2016, on its income received directly in connection with the house construction of 58 socialized housing units in Abulug Resettlement Project located at Brgy. Dana-ili, Abulug. the qualified beneficiaries. Moreover, the delivery of 58 socialized housing units shall be residential dwellings3 with selling price of not more than P3,199,200.00. and creditable withholding tax pursuant to Section 20 (d)(1) of Republic Act (RA) No. 7279) Cagayan, intended for the calamity victims of Abulug and will be used as a relocation site for exempt from value-added tax (VAT) pursuant to Section 109 (1)(P) of the National Internal Revenue Code of 1997 (Tax Code), as amended, provided that the selling price thereof does This certifies that NC RODRIGUEZ CONSTRUCTION, an entity engaged by the

It shall be understood that NC RODRIGUEZ CONSTRUCTION must issue VAT Exempt official receipts on its gross receipts from the said socialized housing project. shall be subject to VAT, even if the said purchases are to be used for the socialized housing project, since VAT is an indirect tax which can be passed on by the seller of the goods/services. However, the purchases of goods/articles by NC RODRIGUEZ CONSTRUCTION

Unit of Abulug, Cagayan over the parcels of land described below, to wit: Moreover, the Deeds executed by the Landowners in favor of the Local Government

Deeds Date Landowners/ Name of Sellers of Title No. Certificate Transfer (Sq.m.) Area Transferred (Sq, m.) Area Location

Estate and Deed of Absolute Sale Extra-Judicial Settlement of 5, 2020 July Florencia C. Manguba Elmer C. Manguba Scarlito C. Manguba4

1 Per Contract Agreement dated July 8, 2021 3 Sale of lot only, regardless of the price, shall be subject to VAT starting January 01, 2021 pursuant to RA No. 10963. 4 This Certificate of Tax Exemption does not include exemption from estate tax on the transfer of TCT No. T- registered owner, Sabas Manguba, to his heirs. 2 As adjusted using the 2010 Consumer Price index values per Revenue Regulation No. 8-2021 dated June 11, 2021 from its