BIR Ruling No. 514-2020

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

Certificate of Tax Exemption No:

PSH - 0514 CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN:

creditable withholding tax (CWT) pursuant to Section 20 (d) (1) of Republic Act (RA) No. house and lot units for residential and dwelling purposes to qualified beneficiaries in Bela Rosa Batangas, a project duly registered with the Housing and Land Use Regulatory Board provided that the selling price of said units does not exceed P450,000.001 per house and lot. Taxpayers Identification Number (TIN) 7279, as amended by RA No. 10884 (Balanced Housing Development Program Amendments) dated July 17, 2016, on its income received directly in connection with its sale of socialized Residences, consisting of 1,836 house and lot units, located at Brgy. Sta. Teresita, Sto. Tomas, (HLURB) under Certificate of Registration No. This certifies that SUMMERHILLS HOME DEVELOPMENT CORP. with and License to Sell No. is exempt from income tax and

below, or house and lot and other residential dwellings valued at P3, 199,200.00 and below, is exemption from VAT shall only apply to sale of house and lot and other residential dwellings? exempt from value-added tax (VAT) pursuant to Section 109 (1) (P) of the National Internal Revenue Code of 1997, as amended.Provided, however, that beginning January 01, 2021, the with selling price of not more than P2,000,000.00. Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and

covered by the tax exemption clause in Section 20 of RA No. 7279. Thus, the documents the same Code, whichever is higher. Likewise, lots/units classified as Economic Housing, not being covered by RA No. 7279, shall be subject to the payment of appropriate taxes. conveying the properties shall be subject to DST imposed under Section 196 of the National for such realties or on their fair market value determined in accordance with Seetion 6 (E) of Internal Revenue Code of 1997, as amended, based on the consideration contracted to be paid It is observed, however. that documentary stamp tax (DST) is not one of the taxes

applicable BIR rules and regulations and the Terms and Conditions stated at the back hereof. The Company is liable, however, for other applicable taxes not discussed above. The grant of tax exemption herein is subject to the compliance with the provisions of

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

Issued this day of_SEP 1 5 2020

103,wy

CAESAR R.DULAY Commissioner of Internal Revenue K-1-LMAT 036695

+Per HLURB License to Sell No 2Sale of lot only, regardless of the price,shall be subject toVAT starting January 01, 2021 pursuant to RA No. 10963. dated May 16, 2018.

(Bela Rosa Residences) SUMMERHILLS HOME DEVELOPMENT CORP CTE No.: Date issued: PSH0514-2020 SER 1 5 202

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 1,836 socialized house and lot units in Bela Rosa Residences, located at Brgy. Sta. Teresita, Sto. Tomas, Batangas.

2 The developer shall submit the sworn statement of the buyer that he is eligible as a socialized

housing beneficiary under Section 5 (A) of Revenue Regulations (RR) No. 11-97 to the Bureau (CAR) for the transfer of the title of the socialized housing unit. of Internal Revenue (BIR) during the processing of the Certificate Authorizing Registration

3 It is understood that the CAR shall only be issued after it is established upon proper verification

by the Revenue District Officer (RDO) concerned that, considering the rules on valuation of real property, the actual selling price per sale transaction of the socialized house and lot packages in this case does not really exceed P450,000.00.

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