BIR Ruling No. 270-2021

REPUBLICO THE PHHLIPPINES

BUREAU OF INTERNAL REVENUE DEPARI'MENI OF FINANGE

Quezon City

Certificate of Tax Exemption No:

NSH -

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

Garcia Construction Corporation (Joint Venture), an entity engaged by the National Housing Authority (NHA), is exempt from project-related income ' taxes/creditable withholding tax (CWT) pursuant to Section 20 (d) (1) of Republic Act (RA) No. 7279, as amended by RA No. 10884 (Baianced Housing Development Program Amendments) dated July 17. 20l6. on its income received directly in connection with the iand development and housing construction consisting of 938 socialized housing units in Our Lady's Village Resettlement Project, a socialized housing project of the NHA located at Brgy. San Isidro Village and Cavinitan. Virac, Catanduanes. and is intended to benefit families atfected hy Typhoon "Nina" and other tamilies living in danger areas willing to be relocated permanently. This certifies that J.C. Uyecio Construction and Development Company/C.s

of not more than P5.000,000.00. as adjusted to P3.199.200.00 in 2011 using the 2010 Consumer house and lot package: provided further. that beginning January 01. 2021, the exemption from of 1997, as amended. provided that the selling price thereof does not exceed P3. 199.200.00 per V AT shalt only apply to sale of house and lot and other residential dwellings' with selling price Price index values.2 value-added tax (VAT) pursuant to Section 109 (l) (P) of the National Interna! Revenue Code L.ikewise. the acquisition of the said 938 socialized housing units shall be exempt from

housing project, since VAT is an"indirect tax which can be passed on by the scller of the official receipts on its gross receipts from the said socialized housing project. goods/services. It shall be understood that J.C. Uyecio Construction and Development Company/C.S. Garcia Construction Corporation (Joint Venture) must issue VAT-exempt Development Company/C.S. Garcia Construction Corporation (Joint Venture) shall be subject to VAT, even if the said purchases are to be used for the above-mentioned socialized However. the purchases of goods/articles by J.C. Uyecio Construction and

this Certificate shall be considered null and void. Submitted. However, if upon investigation, the BIR ascertains that the facts are diftferent, then This CTE is being issued on the basis of the facts and documents as represented and Issued this day of J0a

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KI-MI} Commissioner of' Internal Revenue CAESAR R. DULAY Y4387

= Per Revenue Regulations (RR) No. 4-202 dated April 8. 2021. as amended by RR No. 8-2021 Jated June I1. 2021 Sale of lot only, regardless of the price. shall be subject to VA I starting January 0t. 2021 purstant to RA No. 10963.