BIR Ruling No. 463-2017

RFPURLIC OF THE PHILIPPINES

I BUREAU OF INTERNAL REVENUE DEPARYMFNT OF FINANCH

Quczon City

b

Certificate of Tax Exemption No:

CERTHFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

on its income received directly in connection with its sale of socialtzed housing units to at Brgy. Sabang, Naic. Cavite. a project duly registered with the liousing and Land tise value-added tax (V A+) pursuant to Section 20 (d) (1) and (3) of Repubiic Act (RA} No. 7279 quatified beneticiaries in Pasinaya Homes Phase 2. consisting of 1,307 irousing units. located Regu(atory Board (HLURB) under Certificate of Registration No. for house and lot packages.t (I`IN) N This .or ifies that RAEMUAN LANDS, INC. with Taxpayers Identification Number provided that the selling price of' said housing units does not exceed P450.00o.0o. - is cxenpt from income tax, creditable withholding tax (C'W't) and and Iicense to Sell

RAEMULAN I.ANDS, tNC. over the parcels ot tand described betow. to wit: Moreover. the Deeds of Absolute Sale executed by the Landowners in favor of

Novemher Nos ember No ember 22.20{6 22.200 22.201 My Wy. DYate 2} Ricareo G. Ong marricd to Jufie Ohig Riearoo Ci. Oog Harried to Jolic ng narried to Rosita De Guzman Mylens Lim Arthor S. P. tim marricd to Adelado Name of t andowners ( Guan Certificate of Titte Trausfer (sq. m.) 2 26.844 I.3 Area Iisl Transferred (sg nu) 2))( 2{ ?h.844 Loeation ite Nat

in so far as the 35.942- sd. m. for Pasinava Hiomes 1 and 58,203% sq. m for Pasinaya Homes Phase 2 are concerned, which will be used for the entire Pasinaya Hiomes sociatized housing project. are not suhject to capital gains tax and VAT pursuant to Section 20 (d) (2) ot RA No) 7279 and Scction 109 (0) (P) of the Nationat Internal Revenue Coxde of 1997. as amended.

covered hy the tax exemption clause in Section 20 of RA No. 7279. Sueh heing the case. the Tandowners and the project developer shall be liable to pay the DST on the docoments conveying the properties imposed under Section 196 of the National Internal Revente Codte of 1997. as amended, based on the consideration contracted to be paid for such realties or on their It is observed. however. that documentary stamp tax (DsT) is not one of the tases

: foursuant to the HURB c'eruficate ot Registration No. Purstant o the iil ( tRB G'ertiticate ol Registration No. Purstant to HLURBI.ense to Sell No, 032240 -tated February 24. 2017] cated May 05 20{7

RAEMCIANANDS.IN {(Pisinara ttoutes Phase 2} CTE NO. Dae issued

fair market value determined in aceordaunce with Section 6 (F) ot'the sane ('ode. whichever is

Higher

A[so, the purehases ot goods articles by RAEMULAN LANDS, INC. shall be sobjec to V A't. even ift th.: said purehases are to he used tor the soctalized housing project. sinee VA ! is an indireet tas which can be passed on by the setler ot thc goods/services. it shall be understood that RAEMULAN t.XNDS, INC. most issue V A F-exempt otticial receipts on its gross receipts from the said soc ialized housing project.

The grant of tax exemption herein is subiect to the compliance with the provisions of applieable BIR rales and regulauons and the"Terms and Conditions stated hereof. Fhe Company is liable. however, for other appticahle taxes not diseussed above.t

This Certfieate of Tax Lxemption is being issued on the basis of the faets ant documents as represented and submitted. However. if upon investigation, the BiR aseertains that the facts are different. then this G'ertiticate shall be considered null and void.t

Issued this tay of

tauave

CAESAR R. DULAY

iK.IiMAr Commissioner ot Internal Revenue 009 4 41

4 TERMS AND CONDITIONS

The exeupuion from income. creditabie withhokting laxes and VAt covets onis income directly attributable to the revenues generated from the I,307 soeialized housing unit. in Pasinaya Homes Phse . located at Bryy. Sahang. Naic. C'avite.

The developer shalt submit the sworn statement of the buyer that he is eligible as a soctalized housing beneilciary under Section 5 (A)of Revenue Regulations (RR) No. H1-o7 to the BIR during the processing ot the Gertiticate Authortzing Registration (c AR) tor the transter of iie titie of the sociatived lousing unit.

C It is unterstood that the Certifieate Authorizing Registration (CAR) shalt only be issued after

considering the rules on vaiuation of real property. the actual selting price per sale transaction of the socialired house and tot packages in this case does not really exceed P45o.000.00. t is estabfished upo proper veritieation by the Revenue Distriet olicer +Rfx )) coucerned tfat.

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