BIR Ruling No. 699-2019

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

Certificate of Tax Exemption No: 0699-2019

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

Land Ujse Remlathrt, Board (HLURB) under Certificate of Registration No. Section 20 (d) (1) of Republic Act (RA) No. 7279, as amended by RA No. 10884 (Balanced units located 'at Brgy. Timalan, Naic, Cavite, a project duly registered with the Housing and r.50.000.007per house and lot packages. directly in connection with sale of socialized house and iot units for residential and dwelling purposes to qualified beneficiaries in Pasinaya Homes West, consisting of 2271 house and lot Housing Development Program Amendments) dated July 17, 2016, on its income received t? Sell No. This certifies that RAEMULAN LANDS, INC., with Tax Identification Number -. is exempt from income tax and creditable withholding tax (CWT) pursuant to , provided that the selling price of said housing :+s does not exceed and License I'*

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 dwellings3 with selling price of not more than P2,000.000.00. or house and lot and other residential'dweilings 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,

the tax exemption ciause in Section 20 of RA No. 7279 Such being the case, the owner/project developer/seller shall be liable to pay the documentary stamp tax on the documents conveying the properties imposed under Section 196 of the Tax Code of 1997, as amended, based on the classified as Economic Housing. not being covered by RA No. 7279, shall be subject to the payment of appropriate taxes. consideration contracted to be paid for such realties or on their fair market value determined in accordance with Section 6 (E) of the said Code, whichever is higher. Likewise, iots/units It is observed, however, that documentary stamp tax is not one of the taxes covered by

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 enumerated above. The grant of tax exemption herein is subject to the compliance with the provisions of

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 documents

Issued this. day of NOV 2 5 2019 Lacm

K-I-GPS Commissioner of Internal Revenue CAESAR R. DULAY 030 61 1

: The maximun selting price is pegged at P450.000.00 based on HLURB License to Selt No. : Per License to Sefl No. Saie ot lot only . regardless of the price. shall be subject to VAl starting Januar 0t. 2021 pursuant to RA No. 10963. Cormpirance with Section 18 of Republic Act No. 7279. The balance of 4.440 house and lot units is covered by Cenificate of Tax Exemption (c'tEi no while 1js hotise t Issued on May: 31. 2019. - .ot units are authorized for sale and credited to Asensa Subdivision with License to Sell No. I12 house and lot units are authorized for saie and credited to Pagsibol Village 2 with License -. Call No.

Page 2 of 2 RAEMULAN LANDS. INC Date issued NOV 2 5 2019 CTE No 0699-2019

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

1. The exemption from income. creditable withholding taxes and VAT covers only income directly revenues from 227 house and lot units with selling price not exceeding P450,000.00 per house and lot packages. house and lot units, located at Brgy. Timalan, Naic, Cavite. Such exemption shall cover attributable to the revenues generated from the project,Pasinaya Homes West consisting of 227

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 R.R. No. 11-97 to the BIR during the processing of the Certificate Authorizing Registration (CAR for the transfer 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 the house and lot packages in chis case does not really exceed P450,000.00. considering the rules on vphuation of real property, the actual selling price per sale transaction of

4. No. of units in compliance to Section 18 of RA 7279 as amended by RA10884 per HLURB Calamba City,Laguna to wit: License No. granted by HLURB, Region STR, Dencris Business Center,Brgy.Halang

Credited to: License to Sell No. Address No.of Lots

Pagsibol Village 2 Brgy.Timalan,NaicCavite 12

Asensa Subdivision Brgy.Timalan, Naic,Cavite 115