BIR Ruling No. 548-2020

REPUBLICOF THE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

Certificate of Tax Exemption No.

CMP-0548-2020

CERTIFICATE OF TAX EXEMPTION

issued to

Name of Vendor TIN Address

HUMPHREY P.ACOSTA Venus Homes, Savador Ext., Labangon, Cebu City 6000

This certifies that the Deed of Absolute Sale dated June 04, 2016, executed by HUMPHREY P.ACOSTA in favor of:

Name of Vendee TIN Address PANAGHIUSANG NANINGKAMOT MAKABALAY HOMEOWNERS ASSOCIATION, INC. Lower Tunghaan, Minglanilla, Cebu 6046

covering the following property:

Original Certificate of Title No. Area (sq.m.) Transferred Area Location

7,074 7,074 Tunghaan, Minglanilla, Cebu

which shall be used for socialized housing of homeless and underprivileged urban poor families from

Poblacion Pardo, Cebu, duly assisted by Division for the Welfare of the Urban Poor under Direct

Purchase Lot Acquisition of Cebu City's Socialized Housing Program for the benefit of the members

of Panaghiusang Naningkamot Makabalay Homeowners Association, Inc., is not subject to capital

gains tax/creditable withholding tax pursuant to Section 20 (d) of Republic Act (RA) No. 7279,

otherwise known as the Urban Development and Housing Act of 1992. The transaction is, however,

subject to documentary stamp tax under Section 196 of the 1997 Tax Code, as amended, based on

the actual consideration of the sale.

It is, however, understood that this Certificate of Tax Exemption is never intended and shall

not be construed as giving authority to the concerned Register of Deeds to effect transfer of the land

title in the name of the buyer without the necessary certificate of authority to register issued by this

Bureau. In this regard, this Certificate shall be presented to the Revenue District Office (RDO)

concerned in order for the latter to issue the Certificate Authorizing Registration (CAR). The CAR shall

only be issued after the submission of the requirements provided under Revenue Memorandum Order

(RMO) No. 15-2003.

Upon application for exemption, a lien on the title of the land shall be annotated by the Register

of Deeds having jurisdiction over the property, to the effect that the same is to be applied to socialized

housing project pursuant to RA 7279.

This Certificate is being issued on the basis of the facts and documents as represented and

submitted. However, if upon investigation, the BIR ascertains that the facts are different, then this

Certificate shall be considered null and void.

Issued this day of SEP 2'3 2020 Maianwe

K-1-JAC Commissioner of Internal Revenue CAESAR R. DULAY 036751