BIR Ruling No. 458-2017

BUREAU OF INTERNAL REVENUE REPUBHIC OF THE PHILIPPINES DEPART MENT OF FINANCE Quezon City

Certificate of Tax Exemption No:

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

housing project. Eastview Homes 3 - Antipolo, consisting of 379 units located at So. Colaique withholding tax on its income received directly in connection with its economic and iow-cost No. 226, otherwise known as the "Omnibus Investments Code of' 1987" and Section 2.57.5 Identification Number Brgy. San Roquc. Antipolo City. a project duly registered with the Board of Investments (BOI) under Registration No. June 2014 or actual start of commercial operations/selling. whichever is earlier, but in no case earlier than the date of registration of the project with the BOI. pursuant to Exccutive Order (B)(2) of Rcvenue Regulations No. 2-98. as amended. This certifies that HAUS TALK PROJECT MANAGERS, INC. with Tax dated March 20, 2014, for a period of 4 years beginning from is exempt from income tax and creditable

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 'T'erms and Conditions stated at the hack 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

Issucd this. day of

Ax

CAESAR R. DULAY Commissioner of Internal Revenue 009309

K-1-JAC

Page 2 of 2 Haus Talk Project Managers, Ine. CTE No. Date issued 9->F-2017 4E-07

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

The exemption from income and creditable withholding taxes covers oniy income directly attributable to the revenues generated from the project, Eastview Homes 3 - Antipolo consisting of 379 units, located at So. Colaique, Brgy. San Roque. Antipolo City. Such exemption shall not cover revenues from units with selling price execeding P3.000.000.00.

The Company is obligated to construct and sell 379 housing units based on the following schedules/sales revenues:

Tota Year 2 3 4 (No. of Units) Volume 371 11 20 9 84 1O 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

compliance 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 file its tax

returns and pay its tax liabilities, on or before the deadline as provided under the 1997 Tax Code. as amended. using the electronic system for fiting and payment of taxes of the BIR. It shall file with BOI a complete annual tax incentives report of its incomc-based tax incentives VAT and duty excmptions. deductions. credits or exclusions from the tax base, as may be provided under E.O. 226, within the period prescribed under RA No. 10708's Implementing Rules and Regulations and Joint Memorandum Circular No. 1-2016 dated September 1, 2016.

6. 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 individuais or corporations subicct to the withholding taxes as source as required under Chapter Xl1I and Section 57 of the Tax Code of 1997. as amended and implemented hy Revenue Regulations (RR) No. 2-98, as amendcd.

7. The Company is required to file on or before the I5t 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.

8. Finally. thc 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 becn granted tax excmption or tax incentives and its tax liability, if any, pursuant to Section 235 of the Tax Code of f997. as amended.

: An Act Enhancing T'ransparency in the Managenent and Accounting of Tax Incentives Administered by. Invesiment Promotion Agencies.