BIR Ruling No. 597-2017

REPUBLIC OF THE PHILIPPINES

BCREAU OF INTERNAL REVENUE DEPARTMENI OF FINANCE Quezon City

Certificate of Tax Exemption No:

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

Gregorio, San Pablo, Laguna consisting of 771 housing units located at Brgy. San Gregorio, San Pablo, Laguna. a project duly registered with the Board of Investments (BOl) from income tax and creditabie withholding tax on its income received directly in conncction with its economic and low-cost housing project, Lumina Homes San Pablo - Brgy. San from December 2016 or actual start of commercial operations/selling. whichever is earticr. under Registration No. This certifies that BRIA HOMES, INC. with TIN dated December 12, 2016. for a period of 4 years beginning is exempt

but in no case earlier than the date of registration of the project with the BOI. pursuant to Sec.2.57.5 (B)(2) of RR No. 2-98, as amended. Executive Order No. 226, otherwise known as the "Omnibus Investments Code of 1987" and

below, or house and lot and other residential dwellings valued at P3.199,200.00 and below. is VAT-exempt under Section 109(1)(P) of the 1997 Tax Code, as amended. Moreover, the sale by the Company of residential lot valued at P1.919.500.00 and

applicable BIR rules and regulations and the Terms and Conditions stated at the back hercof The grant of tax exemption herein is subject to the compliance with thc provisions of

The Company is liable, however, for all other applicable taxes not discussed above.

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 DEC_14_2017-

K-1 Commissioner of Internal Revenue CAESAR R. DULAY 011727

Page 2 of 2 Bria Homes, Inc. Date issued 1214-201 CTE No. 597-26 17

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

1. The exemption from income and creditable withholding taxes covers oniy income direct!y units with selling price exceeding P3,000,000.00. Moreover, the 771 housing units covered by License to Sell No. attributable to the revenues generated from the project. Lumina Homes San Pablo - Brgy. San Gregorio, San Pablo, Laguna consisting of 771 housing units, located at Brgy. San Gregorio, San Pablo, Laguna. Such exemption shall not covcr revenues from shall not be sold for more than PI,700,000.00 per house & lot.

2. The Company is obligated to construct and sell 771 housing units based on the fotlowing

schedules/sales revenues:

Total Ycar 3 2 4 (No. of Units) Volumc 200 71 198 1 82 1 Value(Php '000)

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.

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

5. Pursuant to Section 4 of Republic Act (RA) No. 10708, the Company is required to tile its tax returns and pay its tax liabilities, on or before the deadline as provided under the 1997 Tax VA'T and duty exemptions, deductions, credits or exclusions from the tax basc, as may be Code, 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. provided under E.O. 226, within the periods prescribed under R.A. 10708's Implementing Rules and Regutations and Joint Memorandurm Circular No. 1-2016 dated September 1, 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 withho!ding tax, or if it makes payments to individuals or corporations subject to thc withholding taxes as source as required under Chapter XIll and Section 57 of the Tax Code of 1997, as amended and implemented by Revenue Regulations (RR) No. 2-98. as amended.

I The Company is required to file on or before the I Sth day of the fourth month following the

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

B. 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 iax exemption or tax incentives and its tax liability, if any, pursuant to Section 235 of the Tax Code of 1997. as amended.

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