BIR Ruling No. 465-2021

REPUBLIC OF THE PHILIPPINES DEPAiO'MENT OF FINANCE BUREAU OFINTERNAL REVENUE Quezon City Certificate ofTax Exemption No CERTIFICATE OF TAX EXEMPTION| TO ALL WHOM IT MAY CONCERN: This certifies that PRIMa r-Ao* LAND & HOUSES, INC. with Taxpayer Identification Number(TIN) s .. ,JOOO, is exempt from income tax and creditable withholding tax on its income received directly in connection with its economic and low-cost housing project, Lumina Classic 1 Annex A - Brgy. San Vicente, Sto. Tomas, Batangas, consisting of221 house and lot units used solely for family home or dwelling purposes,located at Brgy. San Vicente, Sto. Tomas, Batangas, a project duly registered with the Board of Investments(BOl)under Certificate of Registration No.. dated August 13,2018, , for a period of 3 years beginning from August 2018 or actual jstart of commercial operations/selling, whichever is earlier, but in no case earlier than the date ofregistration ofthe project with the BOI, pursuant to Executive Order(EG) No. 226, otherwise known as the "Omnibus Investments Code of1987"and Section 2.57.5(B)(2)ofRevenue Regulations(RR) No.2-98,as amended. Moreover, the sale by the Company of residential lot valued at PI,919,500.00 and below, or house and lot and other residential dwellings valued at P3,1991200.00 and below, is VAT-exempt under Section 109(1)(P) ofthe National Internal Revenue Code(Tax Code)of 1997, as amended. Provided, however, that beginning January 01, 202U the VAT exemption snhoatllmoornleythaapnplPy3,t1o9s9a,l2e0o0.f0h0o^u.se and lot and other residential ^ dwellingsf with selling price of However, the sale of house and lot units in excess of the 291 house and lot units registered with the BOI, if any, including those units used for commercial purposes such as TleaaxsiCnog,dreetoafil1s9t9o7re,sa,sofafmiecnesd,eedt.c.shall be subjectto the payment | ofappropriate taxes under the The grant oftax exemption herein is subject to the compliance with the provisions of applicable 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. This Certificate of Tax 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 this Certificate shall be considered null 4nd void. Issued this day of OEC 1 3 :021, CAESfR R.DULAY Commissioner ofInternal Revenue K-l n 7 55 'Formerly: Lumina Homes,Inc. ^ Sale oflot only,regardless ofthe price,shall be subject to VAT starting January 01,2021 pursuant to RA No. 10963. 'As adjusted using the 2010 Consumer Price Index values pursuant to RR No.8-2021 dated Juhie 11,2021