BIR Ruling No. 615-2017

RFPUBLIC OF THF PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No. 61:-x17

CERTIFICATE OF TAX EXEMPTION

issued to

Name of Seller TIN Address Rufina P. Lopez imit Dominador A. Lopez. Executive Homes Lanang, Davao City

-and

Name of Homeowners Association (HOA) Sto. Nirio Grande Homeowners Association. Inc. Phase !! TIN Sitio Guadalupe, Lopez St., Catalunan Grande, Davao City 8000 Address

2016 over a parcel of iand described below. to wit; This certifies that the Deed of Absolute Saie entered by the Seller and thc HOA dated June 21

Transfer Certificate of Title sq.m. 51.524 Area Transferred (sq.m.) 2}, 972 Area of CMP (sq.m. 21. 972 Sitio Guadalupe. Catalunan Grande Davao City Location

transaction is. however. subject to documentary stamp tax under Section 196 of the 1997 Tax Code. as amended. 32 (b) of Republic Act (RA) No. 7279 or the Urban Development and Housing Act of 1992. The being a Community Mortgage Program (CMP)', is not subject to capital gains tax pursuant to Section

not be construed as giving authority to the concerned Register of Deeds to effect transfer of the land (RMO) No. 15-2003 titie 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 It is. however, understood that this Certificate of Tax Exemption is never intended and shall

27 (DX5) the National Internal Revenue Code of 1997. as amended. occupants of the property transferred under the CMP are qualified beneficiaries and therefore. the seller is entitled to exemption from capital gains tax or income tax imposed under Sections 24 (D)( 1) and/or The Bureau of Internal Revenue (BIR) shall conduct verification and post-audit that the actual

submitted. However. if upon investigation. the BIR ascertains that the facts are different. then this This Certificate is being issued on the basis of the facts and documents as represented and

Certificate shall be considered null and void.

Issued this day of DEC 1 4 2017

1ra

K-I-JAC Comissioner ofinaR63 CAESAR R. DULAY

' Shall he proportionately distributed to the association's qualified member-benericiaries (See Annex)