BIR Ruling No. 375-2022

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REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Certificate of Tax Exemption No:

PSH - 375-2022

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

This certifies that LYNVILLE LAND DEVELOPMENT CORP.' is exempt from income tax and creditable withholding tax (CWT):pursuant to Section 20 (d) (1) of Republic Act (RA) No. 7279, as amended by RA No. 10884 (Balanced Housing Development Program Amendments) dated July 17, 2016, on its income received directly in connection with its sale of socialized house and lot units to qualified beneficiaries in Lynville Residences Sta. Cruz Phase 1, consisting of 685 socialized house and lot units, located at Brgy. San Juan, Sta. Cruz, Laguna, a project duly registered with the Department of Human Settlements and Urban Development (DHSUD) under Provisional Certificate of Registration No. License to Sell No. P480,000.00 per house and lot. provided that the selling price of said units does not exceed and Provisional

Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and below, or house and lot and other residential dwellings valued at P3, 199,200.00 and below, is exempt from value-added tax (VAT) pursuant to Section 109 (1) (P) of the National Internal residential dwellings2 with selling price of not more than P3, 199,200.00.3 Revenue Code (Tax Code) of 1997, as amended. Provided, however, that beginning January 01, 2021, the exemption 'from VAT shall only apply to"sale of house and"iot and other

It is observed, however, that documentary stamp tax (DST) is not one of the taxes

conveying the properties Shall be subject to DST imposed under Section 196 of the National covered by the tax exemption clause in Section 20 of RA No. 7279. Thus, the documents Internal Revenue Code of 1997, as amended, based on the consideration contracted to be paid for such realties or on their fair market value determined in accordance with Section 6 (E) of

being covered by RA No. 7279, shall be subject to the payment of appropriate taxes. the same Code, whichever is higher. Likewise, lots/units classified as Economic Housing, not

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

that the facts are different, then this Certificate shall be considered null and void. documents as represented and submitted. However, if upon investigation, the BIR ascertains This Certificate of Tax Exemption is being issued on the basis of the facts and

Issued this day of AUG 2 5 2022

K - 1/230978 Commissioner of Internal Revenue LILIA CATRIS GUILLERMO 000865

Sale of Jot only, regardless of the price, shall be subject to VAT starting January O1. 2021 pursuant to RA No. 10963. : Formerly: Lynville Realty & Development Corporation 3 As adjusted using the 2010 Consumer Price Index values per RR No. 8-2021 dated June 1i. 2021.

(Lynville Residences Sta. Cruz Phase I) LYNVILLE REALTY AND DEVELOPMENT CORPORATION CTE NO Dafe issued

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

L The exemption from income tax and creditable withholding tax covers onty income directly attributable to the revenues generated from the 685 socialized house and lot units in Lynville Residences Sta. Cruz Phase I, located at Brgy. San Juan, Sta. Cruz, Laguna. 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 P480,000.00.

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