BIR Ruling No. 581-2017

REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

1

Certificate of Tax Exemption No. 581-2017

CERTIFICATE OF TAX EXEMPTION

issued to

Fidela S. ibay Name of Seller TIN 52 Lecapos St., Tuguegarao, Cagayan Address

-and

Name of Homeowners Association (HOA) TIN Address

VILLA SALUD CMP HOMEOWNERS ASSOCIATION, INC. Gadu, Solana, Cagayan 3503

16, 2016 over a parcel of land described below, to wit: This certifies that the Deed of Absolute Sale entered by the Seller and the HOA dated December

Transfer Certificate of Title No. (sg.m) 33.452 Area Transferred 18.820.50 s.) Area of CMP 18,820.50 (sq.m.) Gadu. Solana Cagayan 3503 Location

32 (b) of Republic Act (RA) No."7279, or the Urban Development and Housing Act of 1992. The being a Community Mortgage Program (CMP)', is not subject to capital gains tax pursuant to Section transaction is. however, subject to documentary stamp tax under Section 196 of the same Code.

title in the name of the buyer without the necessary certificate of authority to register issued by this Bureau. In this regard, this Certificate shall be presented to the Revenue District Office (RDO) concerned in order for the latter to issue the Certificatc Authorizing Registration (CAR). The CAR shall only be issued after the submission of the requirements provided under Revenue Memorandum Order (RMO) No. 15-2003 not be construed as giving authority to the concerned Register of Deeds to effect transfer of the land It is, however. understood that this Certiticate of Tax Exemption is never intended and shall

occupants of the property transferred under the CMP are qualified beneficiaries and therefore. the seller is entitled to exemption from capital gains tax or income tax imposed under Sections 24 (D) 1) and/or 2'7 (D)5) the National Internal Revenue Code of 1997, as amended. The Bureau of Internal Revenue (BIR) shall conduct verification and post-audit that the actual

Certificate shall be considered null and void. submitted. However, if upon investigation, the BIR ascertains that the facts are different. then this This Certificate is being issued on the basis of the facts and documents as represented and

Issued this day of DEC 0 7 2017

L&8m

K Conmmissioner of Internal Revenue CAESAR R. DULAY 011641

I Shall be proportionatcly distributed to the association's qualified member-heneficiaries (See Annex).