BIR Ruling No. 466-2019

REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE X Quezon City

Certificate of Tax Exemption No.

0466-2019

CERTIFICATE OF TAX EXEMPTION

issued to

Name of Seller TIN Address

none

-and-

Name of Homeowners Association Pamana Compound JTG Brgy. 177 Homeowners' Association, Ine (HOA) TIN Lot 13 Blk. 82 Waling-Waling St. Area D, Camarin, Caloocan City Address D

This certifies that the Deed of Absolute Sale entered by the Seller and the HOA dated January 10, 2018 over a parcel of land described below, to wit:

Transfer Certificate of Title (sq.m.) Area Transferred (sq.m. Area of CMP (sq n. Location

240 240 240

being a Community Mortgage Program (CMP)1, is not subject to capital gains tax pursuant to Section 32 (b) of Republic Act (RA) No. 7279 or the Urban Development and Housing Act of 1992. The transaction is, however, subject to documentary stamp tax under Section 196 of the same Code.

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

The Bureau of Internal Revenue (BIR) shall conduct verification and post-audit that the actual 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 27 (D)(5) of the National Internal Revenue Code of 1997, as amended.

This Certificate is being issued on the basis of the facts and 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. Issued this day of AUG 3 0 2019 C

CAESAR R. DULAY Commissioner of Internai Reveny 028080 Shall be proportionately distributed to the association's qualified imember-beneficiaries (See Annex)