BIR Ruling No. 64-2020

REPUBLICOFTHE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No PSH-0082020

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN

P580,000.00 License to Sell No. received directly in connection with its sale of socialized house and lot units to qualified beneficiaries in Southwind Homes, consisting of 697 house and lot units, used solely for family home or dwelling purposes, located at Brgy. Cabuco, Trece Martires City, Cavite, a project duly registered with the Housing and Land Use Regulatory Board (HLURB) under Certificate of Registration No. withholding tax (CWT) pursuant to Section 20 of Republic Act (RA) No. 7279, as amended by RA No. 10884 (Balanced Housing Development Program Amendments) dated July 17, 2016, on its income Taxpayer's Identification Number This certifies that GOLDEN MAHOGANY REALTY HOLDINGS CORPORATION,with , provided that the ceiling price per house and lot package does not exceed is exempt from income tax and creditable and

house and lot and other residential dwellings valued at P3,199,200.00 and below, is VAT-exempt under 5elling price of not more than Two Million Pesos (P2,000,000.00). 2021. the VAT exemption shall only apply to sale of house and lot and other residential dwellings2 with ection 109(1)(P) of the 1997 Tax Code, as amended. Provided, however, that beginning January 1. Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and below, or

properties imposed under Section 196 of the Tax 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 being covered by R.A. No. 7279, shall be subject to the payment of appropriate taxes. the tax exemption clause in Section 20 of RA No. 7279. Such being the case, the owner/project developer/seiler shall be liable to pay the documentary stamp tax on the documents conveying the It is observed, however, that documentary stamp tax (DST) is not one of the taxes covered by

BIR rules and regulations and the Terms and Conditions stated at the back hereof. The Company is liable, however, for all other applicable taxes not discussed above. The grant of tax exemption herein is subject to the compliance with the provisions of applicable

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

Issued this day of_JAN I! Z

taeRony

Commissioner of Internal Revenue CAESAR R.DULAY 032012

The maximum selling price is pegged at 580,000.00 per house & lot based on HLURB License to Sell No.034809 ale of lot only,regardless of the priceshail be subiect toVAT starting January 01,2021 pursuant to RA No.10963.

GOLDEN MAHOGANY REALTY HOLDINGS CORP CTE No. PSH-008-2020

Page2of2 Date issued JAN2E

TERMS AND CONDITIONS OF THE CERTIFICATE OF TAX EXEMPTION

The exemption from income, creditable withholding taxes and VAT covers only income in Southwind Homes, located at Brgy. Cabuco, Trece Martires City, Cavite. directly attributable to the revenues generated from the 697 socialized house and lot units

The developer shall submit the sworn statement of the buyer that he is eligible as a socialized housing beneficiary under Section 5 (A) of Revenue Regulations (RR) No. 11- 97 to the BIR during the processing of the Certificate Authorizing Registration (CAR) for the transfer of the title of the socialized housing unit.

3. It is understood that the Certificate Authorizing Registration (CAR) shall only 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 socialized house and lot packages in this case does not really exceed P580,000.00

List of saleable lots per HLURB License to Sell No. Southern Tagalog Region, to wit: granted by the HLURB.

Block No. 3 4 5 6 3 to 22, 27 to 46, 51 to 70, 75 to 80, 82 to 84 3 to 22, 24, 26, 27, 29, 31 to 46, 48, 50.51,53,55 to 74,76 & 77 3 to 23, 28 to 47, 52 to 69 Lot No. 2 to 9 No. of Lots 66 9 59 8

1 3 to 22.24.27.29 to 46.48. 51 53 to 70, 72,75,77 to 90 & 92

13 11 12 10 8 9 2 to 11, 14 to 23, 26 to 35, 38 to 42 3 to 22,27 to 46, 51 to 70, 75 to 91 3 to 22, 27 to 46, 51 to 70, 75 to 86 3 to 22, 27 to 46, 51 to 70, 75 to 94 3 to 22, 27 to 46, 51 to 70, 75 to 95 3 to 22,27 to 46, 51 to 70,75 to 87 TOTAL 6 80 11 35 3