BIR Ruling No. 373-2021

REPUBLIC OF THE THHLIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No: N--

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

RA No. 10884 (Balanced Housing Development Program Amendments) dated July 17. 2016. on its income received directly in connection with the construction/deveiopment of 375 Brgy_ Pugaro, Manaoag. Pangasinan," a sociatized housing project of the NHA under its Housing Authority (NHA), is exempt from project-related income taxes and creditable socialized housing units (two-storey duplex type) in Piigrim Heights Residences, located in AFP/PNP and Other Government Employees Housing Project. withholding tax pursuant to Section 20(d)(1) of'Republic Act (RA) No. 7279, as amended by This certifies that LAK-K BUILDERS CO., an entity engaged by the National

price of not more than P3.199,200.00. added tax (VAT) pursuant to Section 109(1)(P) of the National Internal Revenue Code of (997 per house and lot package: provided further, that beginning January i. 2021. the exemption from VAT shall only apply to sate of house and lot and other residential dwellings with selling (Tax Code), as amended, provided that the selling price thereof does not exceed P3, 199,200.00 Moreover, the delivery of the 375 socialized housing units shall be exempt from value-

is an indirect tax which can be passed on by the seller of the goods/services. It shall be gross receipts from the said socialized housing project. to VAT, even if the said purchases are to be used for the socialized housing project, since VAT understood that LAK-K BUILDERS CO. must issue VAT-exempt official receipts on its However, the purchases of goods/articles by LAK-K BUILDERS CO. shall be subject

over the parcel of land described below, to wit: Moreover, the Deeds of Absolute Sale executed by the Landowner in favor of the NHA

August 31 Absolute Deed of Date of 202 Sate married to Fe Landowner Quiambao Quiambao Nestor P. Name of Certificate of. Title No. Transfer Aggregate (sq. m.) 55.905 Area Transferred Utilization for NHA (sq.m.) 53.136 Area Property/ies Location of

which shall be used for the above-mentioned socialized housing project. is not subject to capital gains tax/creditable withholding tax. documentary stamp tax and VAT pursuant to Sections 19 and 20 of Republic Act (RA)"No. 7279 and Section 109(1)(P) of the 1997 Tax Code. as amended.

Page 2 of 2 Lak-k Builders Co. Date issued CTE No

effect transfer of the (and title in the name of the NHA without the Certificate Authorizing Revenue District'Office (RDO) concerned in order for the latter to issue the CAR. intended and shall not be construed as giving authority to the concerned Register of Deeds to Registration (CAR) issued by this Bureau. In this regard, this CTE, together with the documentary requirements provided under RM0 No. i5-2003, shall be presented to the It is. however, understood that this Certificate of Tax Exemption (CTE) is never

applied or are being applied to a socialized housing project pursuant to RA 7279. Register of Deeds having jurisdiction over the property, to the effect that the same is to be Upon application for exemption, a lien on the title of the land shall be annotated by the

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

Issued this day of

K - Commissioner of Internal Revenue g CAESAR R. DULAY 02 CX