BIR Ruling No. 476-2020

REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No:

PSH- 0476-2020

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

creditable withholding tax (CWT) pursuant to Section 20 (d) (1) of Republic Act (RA) No. house and lot units for residential and dwelling purposes to qualified beneficiaries in Casa Cerca Rio, consisting of 266 house and lot units, located at Brgy. Cupang Bauan, Batangas, a Taxpayers Identification Number (TIN) 7279, as amended by RA No. 10884 (Balanced Housing Development Program Amendments) dated July 17, 2016, on its income received directly in connection with its sale of socialized project duly registered with the Housing and Land Use Regulatory Board (HLURB) under Certificate of Registration No. price of said units does not exceed 450,000.00' per house and lot. This certifies that BOOMTOWN REALTY AND DEVELOPMENT CORP.with and License to Sell No. is exempt from income tax and , provided that the selling

below, or house and lot and other residentiai dwellings valued at P3,199,200.00 and below, is exempt from value-added tax (VAT) pursuant to Section 109 (1) (P) of the National Internal Revenue Code of 1997, as amended.' Provided, however, that beginning January 01, 2021, the exemption from VAT shall only apply to sale of house and lot and other residential dwellings with selling price of not more than P2,000,000.00. Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and

conveying the properties shall be subject to DST imposed under Section 196 of the National being covered by RA No. 7279, shall be subject to the payment of appropriate taxes. Internal Revenue 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. Likewise, lots/units classified as Economic Housing, not covered by the tax exemption clause in Section 20 of RA No. 7279. Thus, the documents It is observed, however, 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, for other applicable taxes not discussed 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_AUG 2 D 2020

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K-1-LMAT Commissioner of Internal Revenue CAESAR R. DULAY

036389

Sale of lot only, regardless of the pricshall be subjct toVAT staring January 01.2021 pursuant to RANo.10963. Per HLURB License to Sell No dated March 6. 2017.