BIR Ruling No. 649-2020

REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE

BUREAU OF INTERNALREVENUE

Quezon City

Certificate of Tax Exemption No: B01-4-0649-2020

CERTIFICATE OF TAX EXEMPTION

TO ALLWHOM IT MAY CONCERN:

start of commercial operations/selling, whichever is earlier, but in no case earlier than the date .housing project, BRIGHTON PHASE 6, consisting of 2921 house and lot units used solely for family home or dwelling purposes, located at Brgy. Santa Clara, General Trias, Cavite. a project duly registered with the Board of Investments (BOI) under Registration No. dated December 27; 2019, for a period of 3 years beginning from December 2019 or actual Identification Number withholding tax on its income received directly in connection with its economic and low-cost of registration of the project with the BOI, pursuant to Executive Order No. 226, otherwise known as the "Omnibus Investments Code of 1987" and Section 2.57.5 (B)(2) of Revenue Regulations No. 2-98, as amended. This certifies that PROPERTY COMPANY. OF FRIENDS, INC., with Tax is exempt from income tax and creditable

that beginningJanuary 1,2021, the VAT exemption shall apply only to sale of house and lot below, or house and lot and other residential dwellings valued at P3,199,200.00 and below, is VAT-exempt under Section 1091(P) of the 1997 Tax Code, as amended.Provided, however, and other residential dwellings? with selling price of not more than Two Million Pesos (P2,000,000.00). Moreover, the sale by the Company of residential lots valued at P1,919,500.00 and

those units used for commercial purposes.such as leasing, retail stores, offices, etc., shall also be subject to other applicable taxes under the 1997.Tax Code, as amended. The sale of housing units with selling price of more than Two Million Pesos3, including

The Company is liable, however, for all other applicable taxes not discussed above. applicable BIR rules and regulations 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

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. This Certificate of Tax Exemption is being issued on the basis of the facts and

Issued this day of DEC 0 1 2020

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to Department of Human Settlement and Urban Development, Southern Tagalog, the number of units with selling price of not more than P2 Million pesos is only Sale of lot only, regardless of the prce,shall be subjet toAT starting January 1,2021 pursuant to RANo.10963. I Based on HLURB License to Sell No. 3 Based on HLURB License to Sell No. K- while the remainingunits are being sold for more than P2 Million pesos. , there areunits being sold for more than P2 Million pesos. the total number of units for the project is.. However, per letter addressed Commissioner of Internal Revenue CAESAR R. DULAY 038059