BIR Ruling No. 266-2022

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

Certificate of Tax Exen No 3O1-LEH- 2 6 6 -'2

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

consisting of 1,377 house and lot units used solely for "family home or dwelling "purposes. registration of the project with the BOI, pursuant to Executive Order (EO) No. 226, otherwise known as the "Omnibus Investments Code of 1987" and Section 2.57.5 (B) (2) of Revenue located at Purok Mahartika, Brgy. Cuambogan, Tagum City, a project dulv registered with commercial operations/selling, whichever is earlier, but in no case earlier than the date of Identification Number (TIN) withholding tax on its income received directly in connection with its economic and low-cost housing project, Lumina Tagum - Purok Maharlika, Brgy. Cuambogan, Tagum City the Board of Investments (BOI) under Certificate of Registration No. Regulations (RR) No. 2-98, as amended. December 21, 2021, for a period of 4 years beginning from December 2021 or actual start of This certifies that PRIMA CASA LAND & HOUSES, INCl. with Taxpayer , is exempt from income tax and creditable dated

shall only apply to sale of house and lot and other residential dwellings? below, or house and lot and other residentiai dwellings valued at P3,199,200.00 and below, is VAT-exempt under Section 109(1)(P) of the National Internal Revenue Code (Tax Code) of P3,199.200.003 1997, as amended. Provided, however, that beginning January 01, 2021, the VAT exemption Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and valued at

registered with the BOI, if any, including those units used for commercial purposes such as leasing, retail stores, offices, etc. shall be subject to the payment of appropriate taxes under the Tax Code of 1997, as amended. However, the sale of house and lot units in excess of the 1,377 house and lot units

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. 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 f MAY 2 7 2022

K-1-MDT By: F. MArisS! Deputy Commissioner Officar-in-Charge K gal Group CabreroS 0 9 0 6 Commissioner of Internal Revenue CAESAR R. DULAY

2 Sale of lot oniy,regardless of the price, shal be subject to VAT staring January 01, 202 pursuant to RA No. !0963. 3 As adjusted using the 2010 Consumer Price Index values pursuant to RR No. 8-2021 dated June 11, 2021. Formerly: Lumina Homes, Inc.

Lumina Tagum page 2 of 2 Date issued_MAY_2 7_2022 CTE NO. FO1-LEF- 2 6.6 - '2 0 2 2

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

The exemption from income and creditable withholding taxes covers only income directly

attributable to the revenues generated from the project, Lumina Tagum -- Purok Maharlika, Brgy!

dwelling purposes located at Purok Maharlika, Brgy. Cuambogan, Tagum Citv. exemption shall not cover revenues from units with selling price"exceeding Cuambogan, Tagum City, consisting of 1,377 house and lot units used solely for family home or Moreover, the 1,377 house and lot units covered by Provisional License to Sell No. be sold for more than F per house and lot. shall not Such

2. The enterprise shall observe the following project timetable:

Start of Commercial Operations Site Preparation and Development Building/House Construction Milestone December 2019 -- December 2025 February 2020 --- December 2025 Investment Cost and Schedule December 2021 Total Project Cost

3 In the computation of the project's ITH, interest .income from in-house financing shall not be considered as part of the revenues generated from the,.registered housing project.

The Company's entitlement to ITH for its.BOI-registered housing project is subject to the compliance with the provisions of the Specific Terms and Conditions of its BOl Registration.

5. Pursuant to Section 4 of Republic Act (RA) No. 107084; the Company is required to file its tax

returns and pay its tax liabilities, on or before the deadline as provided under the Tax Code of 1997, as amended, using the electronic system for filing and payment of taxes of the BIR. It shall file with BOI a complete annual tax incentives report of its income-based tax incentives, VAT and duty exemptions, deductions, credits or exclusions from the tax base, as may be provided under EO No. 226, within the periods prescribed under RA No. 10708's Implementing Rules and Regulations and Joint Memorandum Circular No. !-2016 dated September i, 2016.

The Company shall be constituted as a withholding agent for the government if it acts as employer and any of its employees received compensation income subject to compensation withholding tax. or if it makes payments to individuals or corporations subject to the withholding taxes as source as required under Chapter XII1 and Section 57 of the Tax Code of 1 997, as amended, and implemented by RR No. 2-98, as amended.

7. The Company is required to file on or before the 15t" day of the fourth month following the ciose

of its accounting period of a Profit and Loss Statement and Balance Sheet with the Annual Information Return under oath, stating its gross incothe and expenses incurred during the taxable year.

O Finally, the Company's books of accounts and other pertinent records shall be subject to periodic examination by revenue enforcement officers of this Bureau for the purpose of ascertaining whether

it is complying with the conditions under which it has been granted tax exemption or tax incentives and its tax liability, if any, pursuant to Section 235 of the Tax Code of 1997, as amended.

An Act Enhancing Transparency in the Management and Accounting of Tax Incentives Administered by Investment Promotion Agencies.