BIR Ruling No. 493-2017

REPUBI ICOE THF PHHLIPPINES

BUREAU OF INTERNAL RFVENUE DEPARIMEnT OY FInANGE Quevon (ity

Certificate of Tax Exemption No: 493-2017

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

years beginning from January 2016 or actual start of commerciat operations/selling. whichever is earlier. but in no case carlier than the date of registration of the project with the Code of (987" and Sec.2.57.5(B)(2) of RR No. 2-98, as aniended. B01. pursuant to Executive Order No. 226. otherwise kiown as the "Omnibus Investments Barangay Buhay na Tubig. Imus. Cavite. a project duly registered with the Board of Investments (BO1) under Registration No. : incoine received directly in connection with its economic and low-cost housing project. Bali Hai 1 & 2 - Barangay Buhay na Tubig, Imus, Cavite consisting of 407 units located at TIN This certifies that CITIHOMES BUILDER AND DEVELOPMENT, tNC. with : is exempt from income tax and creditable withhoking tax on its dated January 29. 2016. for a period of 4

below. or house and lot and other residential dwellings valued at P3.199.200.00 and helow. is VAT-exempt under Section 109(+)(P) of the 1997 Tax Code. as amended. Moreover. the sale by the Company of residential lot valued at P1.919.500.00 and

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

documents as represented and submitted. However. if upon investigation. thc BIR ascertains that the facts are different. then this Certificate shall be considered null and void. Issued this This Certiticate of Tax Exemption is being issued on the basis of the facts and day of 0Cl 23 2017.

3m

K -! Commissioner of Internal Revgnue CAESAR R. DULAY 0 10052

CTTHHONES BUHDER ANDDETELOPMENT ING Puge 2ot2 D)ale issued CTE NO. 493-2017 23017

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

1 The exemption fron income and creditabie withhotding taxes covers onk ineome directiy

attributable to the revenues generated fron the project. Bati Hai 1 & 2 - Barangay Buhay na Tubig, Imus, Cavite consisting of 407 units. located at Barangay Buhay na fabig. Imus Cavite. Such exemption shatl not cover revennes from units w it selling price cveeeding P3.000.000.00

2 The Company is obligated to construet and sell 407 housing units hased on the followingt

schedules/sates revenuest

Year Tota (No. of Units} Volume 332 40 60 t Value(Php -000)

3. In the computation of the project's It't. interest income fron in-house financing shatl not be

considered as part of the revenues generated from the registered housing project.

4.The Company's entitlement to {'tH for its BOl-registered housing project is subject to the

complianee with the prov isions of the Specitic Herms and Conditious of its BOt Registration.

5. Pursuant to Section 4 of Republic Act (RA) No. 107081. the Company is required to tile its

tax returns and pay its tax liabitities. on or before the deadtine as prov ided under the 1997 Fay Code. as amended. using the electronie sy stem for filing and payment of taxes of the BIR. It shalt fite with BOt a complete annual tax incentives report ot its income-based tax incentives) VAl and duty exemptions. deduetions. credits or exetusions from the tas base. as may be

Rutes and Regulations and Joint Menorandum Cireular No. 1-2016 dated September 1. 2016. provided under E.0. 226. within the periods prescribed under R.A. 10708's Implementing

The Company shall be constiuted as a withholding agent for the government if it aets as

employer and any of its employees received compensation income subject to compensation withholding tas. or if it makes payments to indi iduats or corporations subjeet to the w ithholding taxes as souree as required under Chapter XIll and Seetion 57 ot the Tax Gode ot 1997. as amended and implemented by Reveme Regulations tRR No. 2-98. as amended.

7.. The Company is required to file on or before the 15t day of the fourth month fotlowing the ctose of its accounting period ot a Profit and Loss Statenent and Balance Sheet with the the taxable year. Annual Information Reurn under oath. stating its gross income and expenses incurred during

8.Finally. the Company's books of accounts and other peninent records shall be subject to periodic examination by revente enforeement officers of this Bureau for the purpose of ascertamMg avhecher it is complying with the conditions under which it has been granted tas

exemption or tax incentives and its tax liability. it any. porsuant to Section 235 ot the Tax Code of 1997. as amended.

Insestnent Pronotim Ageacies An Act Enhancing T'ranspareney in the Management and Accounting ot Fas Incentives Admintsteret by