BIR Ruling No. 405-2018

REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE Quezan City

Certificate of Tax Exemption No: 405-2018

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

Phase 10, consisting of 486 units located at Brgy. Timbao, Binan, Laguna, a project duly 22, 2014, for a period of 3 years beginning from August 2014 or actual start of commercial operations/selling, whichever is eartier, but in no case earlier than the date of registration of the project with the BOI, pursuant to Executive Order No. 226, otherwise known as the "Omnibus Investments Code of i987". identification Number withholding tax on its income received directly in connection with its project, Carmona Estate registered with the Board of Investments (BOI) under Registration No. This certifies that PROPERTY COMPANY OF FRIENDS, INC., with Tax is exempt from income tax and creditable dated August

below. or house and lot and other residentiat.dwellings vaiued at P3,199,200.00 and below, is VAT-exempt under Section 109(1)(P) of the 1997 Tax Code, as amended. Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and

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

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 Issued this This Certificate of Tax Exemption is being issued on the basis of the facts and day of MAR 0 9 2018

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K - Commissioner of Internai Revenue CAESAR R. DULAY 014 19 3