BIR Ruling No. 465-2017

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE

ID Quezon City

Certificate of Tax Exemption No: 465-2017

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

120 units, located at Brgy. Manambulan, Tugbok District, Davao City, a project duly registered tax, creditable withholding tax (CWT) and value-added tax (VAT) pursuant to Section 20 of socialized housing units to qualified beneficiaries in Emily Homes -- Tugbok, consisting of with the Housing and Land Use Regulatory Board (HLURB) under Certificate of Registration Republic Act (RA) No. 7279 on its income received directly in connection with its sale of package does not exceed CORPORATION, with Tax Identification Number No. ThiscertifiesthatHLC and License to Sell No. and CONSTRUCTIONAND provided that the ceiling price per house and lot for lot only. , is exempt from income DEVELOPMENT

covered by the tax exemption clause in Section 20 of RA No. 7279. Such being the case, the owner/project developer/seller shall be liable to pay the documentary stamp tax on the documents conveying the properties imposed under Section 196 of the Tax 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 the same Code, whichever is higher. Nonetheless, it is observed that documentary stamp tax (DST) is not one of the taxes

applicable BIR rules and regulations and the Terms and Conditions stated at the back hereof. The Company is liable. however, to all other applicable taxes not enumerated above. 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 SEP 28 2017

1owow

Commissioner of Internal Re CAESAR R. DULAY 4 4.4.5

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HLC Construction and Development Corporation Page 2 of 2 Datc issued 9-28-2017 CTE No. 465-2017

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

1. The exemption from income, creditabie withholding taxes and VAT covers only income directly attributable to the revenues generated from the 720' socialized housing units in Emily Homes - Tugbok, iocated at Brgy. Manambulan, Tugbok District. Davao City.

2. The developer shall submit the sworn statement of the buyer that he is eligible as a (CAR) for the transfer of the title of the socialized housing unit. 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

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 and for lot only.

List P450,000.00/house & lot package) granted by the HLURB, Southern Mindanao Region for upgrading, to wit: of Saleable Socialized.Housing.Units(with a maximum price of

Block No. Lot Nos. No. of Lots

16 11 12 13 14 15 1 9 1 2 3 4 S 6 1 1 to 35 1 to 41 1 to 67 1 to 33 1 to 27 1 to 60 1 to 60 1 to 60 1 to 47 1 to 43 1 to 14 1 to 69 1 to 30 1 to 73 1 to 61 60 4 43 41 61 33 27 60 60 35 69 30 17 14 3

Total 120

H

1 The maximum selling price is pegged at 450,000.00 based on HLURB License to Sell No.