BIR Ruling No. 447-2021

^PUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUl^U OFINTERNAL REVENUE Quezon City Certificate ofTax Exemption No: \)i)h "u 11 CERTIFIICATE OF TAX EXEMPTION TO ALL WHOM IT MAY C0NCERN: This certifies that BRIA HOMES,INC^ with Taxpayer Identification Number(TIN) >0000, is exempt from income tax and creditable withholding tax on its income received directflltyr itnn connection with its:i.- economi�c andf lf ow-cost..hous. ing project, Bria Flats Cagayan de Oro-Scarlet Bui ding - Kauswagan,Cagayan de Oro City,consisting of^ residential units used solely for family home or dwelling purposes, located at Kauswagan, cagayan de Oro City,a project duly registered with the Board ofInvestments(BOI)under Certificate ofRegistration No. .dated December 26,2019, for a period of 3years beginning from January 2020 or actual start ofcommercial operations/selling, whichever is earlier, but in no case earlier than the date ofregistration ofthe project with the BOI,pursuant t1o98E7xe"cauntdivSeecOtriodner2.(5E7O.5)(NBo).(22||2o6f,RoetvheernwuieseRekgnuolawtnioanss(thReR")ONmon.i2b-u9s8,Iansveasmtemnednetds.Code of Moreover, the sale by the Company of residential lot valued at PI,919,500.00 and bel^,or house and bt and other residential dwellings valued at P3,199,200.00 and below, is Section I09(I)(P)ofthe National Internal Revenue Code(Tax Code)of 1997, as amended. Provided, however, that beginning January 01, 2021, the VAT exemption shall only apply to sale of hous^ and lot and other residential dwellings^ with selling price of not more than P3,199,200.00^ �^ However,the sale ofresiqlential units in excessofthe^residential units registered with the BOI, if any, including thos units used for commercial purposes such as leasing, retail stores, offices, etc. shall be subj^:ct to the payment ofappropriate taxes under the Tax Code of 1997,as amended. The grant oftax exempt on herein is subject to the compliance with the provisions of applicable BIR rules and regula ions and the Terms and Conditions stated at the back hereof. The Company is liable, however,for all other applicable taxes not discussed above. This Certificate of TaiJ Exemption 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 his Certifica-te s.hal.l..be considered null and void. Issued this day of OEC 0 G 2021 K-l-GPS CAESAR R.DULAY 0475 1 y s ' ^^ CommissionerofInternal Revenue 'Formerly:Casa Regalia,Incorporated ^ Sale oflotonly,regardlessofthe price,shall hesubjectto VATstarting January01,2021 pursuantto RA No. 10963. Asadjusted using the 2010Consumer Price Index values pursuantto RR No.8-2021 dated June 11,2021