BIR Ruling No. 325-2021

BUREAU QF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE Quezon City

Certificate of Tax Exemption No: ISh- 375

CERTIFICATE OF TAX EXEMPTON

TO ALL WHOM IT MAY CONCERN:

exceed P580,000.002 per house and lot packages. Certificate of Registration No. both dated July 08, 2021, provided that the selling price of said house and lot units does not Department of Human Settlements and Urban Development' (DHSUD) under Provisional Section 20 (d) (1) of Republic Act (RA) No. 7279, as amended by RA No. 10884 (Balanced Housing Devetopment Program Amendments) dated July 17, 2016, on its income received directly in ccnnection with its sale of socialized house and lot units for residential and dwelling purposes to qualified beneficiaries in Pasinaya Homes Phase 2, consisting of 1,293' house and Iot with units located at Brgy. Catmon, Sta. Maria, Bulacan, a project duly registered with the This certifies that RAEMULAN LANDS, INC., with Taxpayer Identification Number exempt from income tax and creditable withholding tax (CWT) pursuant to nd Provisional License to Sell No.

Code (Tax 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'P3,199.200.004. or house and lot and other residential'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 Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and below.

RAEMULAN LANDS, INC. over the parcels of land described below, to wit: Furthermore, the Deeds of Absolute Sale executed by the Landowners in favor of

Date Name of Landowners Transfer Certificate of Title (TCT) Ncs. {sq. m. Area Transferred (sq. m.) Location

25.364 25,364

February 12,2019 February 12.2019 Fcbruary 12.2019 March 15, 2019 Evangelista, Rosario Natividad Ricardo Evangelista, Jr., Marcela P Generosa De Vera married to Generosa De Vera married to Simfroso Gojo Cruz Catmon Felix. Inc. Simfroso Gojo Cruz 28,563 1 0.00 5 1.681 10.000 2,829 7.243 10.00 SL,681 28.S3 10,000 2,829 7.23

I AIready in the name of Raemulan Lands. Inc.under TCT No 3 Atready in the name of Raemulan Lands, Inc. under TCT No. 7 Atready in the name of Raemulan Lands, Inc. under TCT No. 3 AIready in the name of Raemulan Lands, fnc. under TCT No I1 Aiready in the name of Raemulan Lands, Inc. under TCT No. 6 Already in the name of Raemulan Lands, Inc. under TCT No : The maximum selling price is pegged at Sale of lot only, regardfess of the price, shall be subject to VAT starting January 01, 2021 pursuant to RA No. 10963. Already in the name of Raemulan Lands, Inc. under TCT No. 4 A5 adjusted using the 2010 Consumer Price Index values pursuant to Reventie Regulation (RR) No. &-2021 dated June I 1. 2021 Per Provisional License to Sell No 00 per house & lot based on DHSUD Provisional License to Sell No. 293 house and lot units are authorized for sale

.

RAEMULAN LANDS. INC. Page 2 of 3 Date issued AUG_3 1 202 CTE No. PiH- 3 2E

Evangelista, Ma. Lourdes Evangelista, Florante P. Evangelista. Lucito P.

Evangelista, Antonio G. Evangelista, Evangelista, Joselito P. Evangelista. Evangelista, Shirley P. Evangelista, Mariano G. Evangelista married to Saludares, Blanca Sanchez Alcantara Evangelista, Ma. Enrico P Melissa Marie Julien Evangelista, Jennifer Evangelista, Jose Rafael Gerley Evangelista, Heidee Eva Lualhati, Virginia Evangelista Saludares married to Arminio married to Eladio Alcantara and Edgardo E. Sanchez married to Anita Villoria May 03, 2018 Pascual Dantes Bonifacio Total 140,148 4,468 140, 148 4468

which shall be used for the abovementioned socialized housing project, in so far as the area (CGT) pursuant to Section 20 (d) (2) of RA No. 7279, as amended, and to VAT pursuant to Section'109 (1) (P) of the Tax Code`of 1997, as amended. corresponding to the 1,293 house and lot units is concerned, are not subject to capital gains tax

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. be subject to the payment of appropriate taxes. by the tax exemption clause in Section 20 of RA No. 7279. 'Thus, the documents conveying the properties shall be subject to DST imposed under Section 196 of the Tax Code of i997, as Likewise, lots/units classified as Economic Housing, not being covered by RA No. 7279, shall It is observed, however, that documentary stamp tax (DST) is not one of the taxes covered

applicable BiR rules and regulations and the Terms and Conditions stated hereof. The Company is iable, however, for all other applicable taxes not enumerated above. The grant of tax exemption herein is subject to the compliance with the provisions of

are different, then this Certificate shall be considered null and void. as represented and submitted. However, if upon investigation, the BIR ascertains that the facts This Certificate of Tax Exemption is being issued on the basis of the facts and documents

Issued this day of AUG 31 2-3

CAQA

K-1-MDT Commissioner of Interna! Revenue CAESAR R. DULAY B 04507 O

iL

12 ATready in the name of Raemulan Lands, nc. under TCT No. 040-2020005962

RAEMULAN LANDS, INC. Page 3 of 3 Date issued_AUG _3_1_2021 CTE No._P2H -_3 25 - 2 0 2 t

TERMS AND CONDITIONS OF THE CERTIFICATE OF TAX EXEMPTION

1 The exemption from income and creditable withhoiding taxes covers only income directly attributable to the revenues generated from the project, Pasinaya Homes Phase 2 consisting

of 1.293 house and lot units, located at Brgy. Catmon, Sta. Maria, Bulacan. Such exemption shall cover revenues from 1.293 house and lot units with selling price not exceeding : per house and lot packages.

2. The developer shall submit the sworn statement of the buyer that he is eligible as a socialized

housing beneficiary provided under Section 5 (A) of Revenue Regulation (RR) No. 1 1-97 to the

Registration (CAR) for the transfer of the socialized housing unit. Bureau of Internal Revenue (BiR) during the processing of the Certificate Authorizing

3 It is understood that the CAR shall oniy be issued after it is established upon proper verification by the Revenue District Officer (RDO) concerned that, considering the rules on valuation of real property, the actual selling price per sale transaction of the house and lot packages in this case does not really exceed D

C

*