BIR Ruling No. 476-2021

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUEEAU Oj^IOTE^ALREVENUE Certificate of Tax Exemption No: iwi-tek- i 0 - f) 2 i � CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN: This certifies that BRIA HOMES,INC'. with Taxpayer Identification Number(TIN) jOO, is exempt from income tax and creditable withholding tax on its income received directly in connection with its economic and low-cost housing project, Bria Flats - Mactan Bidg. 2 - Brgy. Sudtonggan, Basak, Lapu-Lapu City, Cebu, consisting of 80 residential units used solely for family home or dwelling purposes, located at Brgy. Sudtonggan, Basak, Lapu-Lapu City, Cebu, a project duly registered with the Board of Investments(BOI)under Certificate ofRegistration No. datefd May 6,2019, for a period of4 years beginning from May 2019 or actual start ofcommercial operations/selling, whichever is earlier, but in no case earlier than the date ofregistration cfthe project with the BOI, pursuant to Executive Order (BO) No. 226, otherwise knowi Investments Code of1987" and Section 2.57.5(B)(2)ofRevenue Regulations(RR)No.2-98, as amended. Moreover, the sale by the Company of residential lot valued at PI,919,500.00 and below, or house and lot and other residential dwellings valued at P3,I99,200.00 and below, is VAT-exempt under Section I09(1)(P) of the National Internal Revenue Code(Tax Code)of 1997, as amended. Provided, however,that beginning January 01, 2021, the VAT exemption shall only apply to sale of house and lot and other residential dwellings with selling price of not more than P3,199,200.00^. However,the sale ofresidential units in excessofthe^residentia units registered with the BOI, if any, as well as the 10 parking slots, including those units used for commercial purposessuch as leasing,retail stores,offices,etc.shall be subjectto the paymentofappropriate taxes under the Tax Code of 1997, as amended. The grant oftax exemption herein is subject to the compliance w ith the provisions of 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. This Certificate of Tax Exemption is being issued on the basis of the facts and � documents as represented and submitted. However, if upon investigatiorl, the BIR ascertains that the facts are different, then this Certificate shall be considered null and void. Issued this day of C'EC ? ? ,. CAESAR R.DULAY ^ CommissionedofInternal Revenue 0479 8^/ K-l-GPS 'Formerly; Casa Regalia,Incorporated ^ Sale oflot only,regardless ofthe price,shall be subjectto VAT starting January 01.2021 pursuant to RA No 10963. 'As adjusted using the 2010 Consumer Price Index values pursuant to RR No.8-2021 dated June 11,2021